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The question is asking to make a balance sheet from the following information. What is the net working capital and debt ratio. I want to make sure I...
The question is asking to make a balance sheet from the following information. What is the net working capital and debt ratio. I want to make sure I am doing this correctly so far. But I am getting stuck. Also do I need to make two different balance sheets?
Here is what is given:
Cash 50,000
Accounts receivable 42,700
Accounts Payable 23,000
Short-term notes payable 10,500
Inventories 40,000
Gross fixed assets 1,280,000
Other current assets 5,000
Long term debt 200,000
Common Stock 490,000
Other assets 15,000
Accumulated depreciation 312,000
Retained earnings ?
Here is what I have so far:
Cash 50,000 100%
Accounts Receivables 42,700 3.8%
Inventories 40,000 3.6%
This is all I have so far but I do not know what to do next and I am confused.