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:

Regulation

The establishment and enforcement of rules and standards by an authority, often government, to regulate activities within a specific domain.

U.S. Financial Markets

The marketplace in the United States for trading financial instruments like stocks, bonds, foreign exchange, and derivatives.

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Inflationary Pressures

Economic conditions that tend to lead to inflation, which is an increase in prices and decrease in the purchasing value of money, often resulting from supply and demand imbalances.