The following information is available on the Vanier Corporation:
Balance Sheet
Vanier Corporation
December 31,1996
(in thousands)
Rs.
Cash & marketable securities 500
Accounts receivable ?
Inventories ?
Current assets ?
Net fixed assets ?
Total assets ?
Rs.
Accounts payable 400
Bank loan ?
Accruals 200
Current liabilities ?
Long-term debt 2650
Common stock and 3750
retained earnings
Total liabilities and ?
Stockholders equity
Income Statement
Vanier Corporation:
For the year ending 1996
__________________ (in thousands) _____________________
Rs.
Credit sales 8000
Cost of goods sold
?
Gross profit ?
Selling and administrative expenses ?
Interest expense
400
Profit Before taxes ?
Taxes (44% taxes) ?
Profit after taxes ?
Other Information
____________________________________
Current ratio
Depreciation
Net profit margin
3 to 1
Rs. 500
7%
Total liabilities & shareholder equity 1 to 1
Average collection period
Inventory turnover ratio
45 days
3 to 1
____________________________________
Assume that sales and production are steady throughout a 360-day year.
REQUIRED:
Complete the Balance Sheet and Income Statement for Vanier Corporation for
year 1996.
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