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compute the requested ratios and figures

Using the following data, compute the requested ratios and figures.

Balance Sheet

Cash = $ 100 A/P = $ 80
Fixed Assets = 50 Long Term Debt = 120
A / R = 50
Supplies = 100
Stockholders Equity 100
Total Assets = $ 300 Liabilities & equity = $300

Income Statement for ABC Corp
For the 12 month period ending Dec 31, 200x

Sales Revenue $ 500
Less depreciation expense - 5
less salary expense - 250
less admin expenses - 55
less interest paid - 10
Income before taxes ( ? ) __________
less taxes paid - 50
Net Income ( after taxes) ( ? ) ____________

Income Before Taxes = ______________ Income After Taxes = _____________

Effective Tax Rate = ______________

Current Ratio = _________________ Debt Ratio = _______________

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Solution Preview

Using the following data, compute the requested ratios and figures.

Balance Sheet

Cash = $ 100 A/P = $ 80
Fixed Assets = 50 Long Term Debt = 120
A / R = 50 Total Liabilities = 200
Supplies = 100
Stockholders Equity ...

Solution Summary

This solution is comprised of a detailed explanation to answer the request of the assignment in text file.

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