Complete the Following Balance Sheet for the Range Company Using

question 102

Essay

Complete the following balance sheet for the Range Company using the following information:
Debt to Assets = 60%
Quick Ratio = 1.1
Asset Turnover = 5x
Capital Asset Turnover = 12.037x
Current Ratio = 2
Average Collection Period = 17.0708 days

$\begin{array}{ll}\text { Cash }&\underline{\quad\quad} & \text { Current liabilities } &\underline{\quad\quad} \\\text { Receivables }&\underline{\quad\quad} & \text { Bonds payable } &\underline{\quad\quad} \\\text { Inventory } &\underline{\quad\quad} & \text { Total liabilities }&\underline{\quad\quad} \\\text { Total current assets } &\underline{\quad\quad} & \text { Net worth } &\underline{\quad\quad} \\\text { Plant and Equipment }&\underline{\quad\quad} & \text { Total liabilities }&\underline{\quad\quad} \\\text { Total Assets } & \$ 325.000& \text { and Net worth }&\underline{\quad\quad} \end{array}$
Assume all sales are on credit.

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Definitions:

Conversion Cost

The sum of direct labor and manufacturing overhead costs that are required to transform raw materials into finished goods.

Depreciation

The methodical distribution of the expense of a physical asset throughout its expected lifespan.

Oven

An enclosed compartment, usually part of a stove, used for cooking and baking.

Factory Supplies

Items used in the manufacturing process that are not directly part of the final product, including cleaning supplies, tools, and machinery maintenance materials.