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Determine the amount of total assets, current assets noncurrent assets
Determine the amount of total assets, current assets, and noncurrent assets at the end of the period, given the following data:
Current liability, ending balance $50,000 Current ratio, ending 1:6:1 Owners’ equity, beginning balance $120,000 Inventory, beginning balance $ 35,000 Purchases during the period $40,000 Inventory, ending balance $30,000 Gross margin percentage 45% Profit margin 10% Long term debt, ending balance $40,000 |
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