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In: Accounting

Jack's business premises were destroyed in a fire and all his records were lost apart from...

Jack's business premises were destroyed in a fire and all his records were lost apart from a recent analysis that he had made of the latest period's results for his company. He managed to retrieve the following:

Sales: $375000

GP margin: 28%

Total expenses ratio: 17%

Tax Rate 30%

Debt of equity 0,75:1

Current Assets as percentage of cost of 22%

Sales

Current ratio 1.8:1

Return on Equity 11%

Question:

From the information given reconstruct a Statement of Profit or Loss and a Statement of Financial Position.  

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Expert Solution

ekkarill92 answered 2 years ago
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