Complete the balance sheet and sales information in the table that by 2CxzIx

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									Complete the balance sheet and sales information in the table that follows for Isberg Industries
using the following financial data:

         Total Debt Ratio:            50%
         Quick Ratio:                 0.80
         Total Asset Turnover:        1.5
         Days Sales in Inventory: 36 Days
         Cash Ratio:                  .25
         Cost of Goods Sold           75% of Sales

Balance Sheet

Cash                                                 Accounts Payable
Accounts Receivable                                  Long-term Debt               60,000
Inventories                                          Common Stock
Net Fixed Assets                                     Retained Earnings            97,500
Total Assets                300,000                  Total Liabilities & Equity


Sales                                                Cost of Goods Sold

   1)         TA = 300,000 = TL&Eq
                                     TD  0.50300,000  150,000
                              TD
   2)         DR  0.50 
                           300,000
   3)         TD  A / P  LTD  A / P  60,000  150,000  A / P  90,000
              A / P  LTD  CS  R / E  TL & Eq
   4)         90,000  60,000  CS  97,500  300,000
              CS  52,500

                                    Sales  1.5300,000  450,000
                            Sales
   5)         TAT  1.5 
                          300,000
   6)         COGS  0.75450,000  337,500
                           365              337,500 
   7)         DSI  36  337,500  Inv  36           33,288
                            Inv             365 
                          CA  33,288
   8)         QR  0.80                CA  0.8090,000  33,288  105,288
                             90,000
   9)         TA  300,000  105,288  NFA  NFA  194,712
                                   Cash
   10)        Cash Ratio  0.25           Cash  22,500
                                  90,000
   11)        CA  105,288  22,500  A / R  33,288  A / R  49,500


724026a5-3a6b-412a-b29c-4ceafd4d1fae.doc                                                     Page 1

								
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