Mike Owjai Finance Mike Owjai Finance= Income Statements Balance Sheet For the Year Ended December 31, 2020 As of December 31, 2020 Flashcards ee _—__2020 2020 Sules Ratio —_— Assets ‘e Cost of Goods Ratio = Cash $35,000 Copied Gross Profit Formula — Accounts Receivable Ratio Content Depreciation 72

Mike Owjai Finance Mike Owjai Finance= Income Statements Balance Sheet

For the Year Ended December 31, 2020 As of December 31, 2020

Flashcards ee _—__2020 2020

Sules Ratio —_— Assets

‘e Cost of Goods Ratio = Cash $35,000

Copied Gross Profit Formula — Accounts Receivable Ratio

Content Depreciation 72.000 Inventory 59 300M)

Selling & Admin. Expense 954.250) Total Current Assets Formula

Leuse Expense 45.750) Gross Fixed Assets 3.450.000

Eamines Before Interest & Taxes Formula = Accumulated Depreciuon Formula

Interest Expense Ratio Net Plant & Equipment Ratio

Eamines Before Taxes Formula Total Assets 4.030.050

Taxes Formula Liabilities & Owner's Equity

Net Income Ratio — Accounts Payable 359,575

Short-term Notes Payuble — Formula

Note: Tux Rate 25.0% Total Current Liabilities Ratio

Long-term Debt Ratio

Common Equity Ratio

Total Liab. & Owner's Equity Formula

a. Recreate the financial statements as shown using formulas with the ratios

given below to fill in the cells with the word “Ratio.” Use the Rounp function

to round each of these answers to the nearest $1. Ml
Uses Cost of Goods Sold in numerator.

b. Complete the financial statements by using formulas that refer to existing data to fill in the remaining cells.