Principles of Finance

[serfingpenguin]

The Griggs Corp. has credit sales of $1,200,000. Given the following ratios, fill in the balance sheet.
Total assets turnover = 2.4 times
Cash to total assets = 2.0%
Accounts receivable turnover = 8 times
Inventory turnover = 10 times
Current ratio = 2 times
Debt to total assets 61.0%

Professor also gave us equity = $195,000

All I've figured out is that:

receivables turnover = sales (credit)/receivables
8.0 = $1,200,000/x
x= $9,600,000

Assets
Cash
Accts. Receivable $9,600,000
Inventory
Total Current Assets
Fixed Assets
Total Assets

Liabilities and Shareholder's Equity
Current Debt
Long-term Debt
Total Debt
Equity $ 195,000
Total Debt & Shareholder's Equity

Where do I go from here?

 

[Denis]

receivables turnover = sales (credit)/receivables
8.0 = $1,200,000/x
x= $9,600,000
Where do I go from here?

You go and solve for x properly; doesn't 9.6 million look weird to you?

 

[serfingpenguin]

i realize i did that wrong, and i got it right now, but that didnt help with where i go from there. thanks. not.

 

[Denis]

http://www.justanswer.com/questions/4ew ... ss-finance