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Financial information of Moonta Corporation is given the following:
Total Sales on Account 900 000
Total Cash 30 000
Total non-current asset 370 000
Net Profit Margin 10%
Inventory Turnover 4 times
Debt ratio 40%
No. of days collection period 73 days (based on 365 days)
Gross profit margin 40%
Current ratio 3:0:1
Requirement: Make an income statement and balance sheet with complete details and show all necessary computations
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Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..
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