The following ratios are computed from the financial statements of the Wattawa Company. Compute the missing amounts on the firm's financial statements.
Quick Ratio 1.0 Current Ratio 1.5
Accounts Receivable Turnover 5 Debt Ratio 30%
Times interest Earned 3 Inventory Turnover 4
Wattawa Company
Income Statement
For the year ended December 31,2014
Sales ?
Less:Cost of Goods Sold ?
Gross Margin 500,000?
Less: Operating Expenses ?
E.B.I.T. 150,000?
Less:Interest expense ?
Net Income Before Taxes ?
Less:Taxes @ 40% ?
Net Income ?
WattawaCompany
Balance Sheet For the year ended December 31, 2014
Cash ?
Accounts Receivable ?
Inventory ?
Total Current Assets 750,000
Plant and Equipment, net ?
Total Assets ?
Accounts Payable (current liabilities) ?
Bonds Payable ?
Total Liabilities ?
Stockholders'Equity
Common Stock ?
Retained Earnings 800,000
Total Stockholder's Equity ?
Total Liabilities and Stockholder's Equity 2,000,000
Can you please calculate it step by step how to get the answers for each of the banks?