question archive The following information is available on the Vanier Corporation:BALANCE SHEET AS OF DECEMBER 31, 20X6 (in thousands)Cash and marketable securities$500Accounts payable$400Accounts receivable?Bank loan?Inventories?Accruals200Current assets?Current liabilities?Long-term debt2,650Net fixed assets?Common stock and retained earnings3,750 Total assets? Total liabilities and equity?INCOME STATEMENT FOR 20X6 (in thousands)Credit sales$8,000Cost of goods sold?Gross profit?Selling and administrative expenses?Interest expense400Profit before taxes?Taxes (44% rate)?Profit after taxes?OTHER INFORMATIONCurrent ratio3 to 1Depreciation$500Net profit margin7%Total liabilities/shareholders’ equity1 to 1Average collection period45 daysInventory turnover ratio3 to 1Assuming that sales and production are steady throughout a 360-day year, complete the balance sheet and income statement for Vanier Corporation
The following information is available on the Vanier Corporation:BALANCE SHEET AS OF DECEMBER 31, 20X6 (in thousands)Cash and marketable securities$500Accounts payable$400Accounts receivable?Bank loan?Inventories?Accruals200Current assets?Current liabilities?Long-term debt2,650Net fixed assets?Common stock and retained earnings3,750 Total assets? Total liabilities and equity?INCOME STATEMENT FOR 20X6 (in thousands)Credit sales$8,000Cost of goods sold?Gross profit?Selling and administrative expenses?Interest expense400Profit before taxes?Taxes (44% rate)?Profit after taxes?OTHER INFORMATIONCurrent ratio3 to 1Depreciation$500Net profit margin7%Total liabilities/shareholders’ equity1 to 1Average collection period45 daysInventory turnover ratio3 to 1Assuming that sales and production are steady throughout a 360-day year, complete the balance sheet and income statement for Vanier Corporation
Subject:FinancePrice: Bought3
The following information is available on the Vanier Corporation:BALANCE SHEET AS OF DECEMBER 31, 20X6 (in thousands)Cash and marketable securities$500Accounts payable$400Accounts receivable?Bank loan?Inventories?Accruals200Current assets?Current liabilities?Long-term debt2,650Net fixed assets?Common stock and retained earnings3,750 Total assets? Total liabilities and equity?INCOME STATEMENT FOR 20X6 (in thousands)Credit sales$8,000Cost of goods sold?Gross profit?Selling and administrative expenses?Interest expense400Profit before taxes?Taxes (44% rate)?Profit after taxes?OTHER INFORMATIONCurrent ratio3 to 1Depreciation$500Net profit margin7%Total liabilities/shareholders’ equity1 to 1Average collection period45 daysInventory turnover ratio3 to 1Assuming that sales and production are steady throughout a 360-day year, complete the balance sheet and income statement for Vanier Corporation.
