Fin 301 W03 Study And Practice Answers Pdf

This study source was downloaded by 100000859819779 from CourseHero.com on 02-05-2023 14:01:02 GMT -06:00https://www.coursehero.com/file/187639361/W03-Study-and-Practicepdf/ W03 Study and Practice: Financial Statements Score for this attempt: 10 out of 10 Submitted Jan 18 at 8:16am This attempt took 8 minutes. Question 1 1 / 1 pts A company has Cash = $350,000; Inventory = $450,000; Accounts Receivable = $175,000; Fixed Assets = $1,000,000; Owners Equity $1,000,000; and Accounts Payable = $125,000. Compute the company's Total Asset balance. $525,000 $1,125,000 $975,000 Correct! $1,975,000 Correct! Question 2 1 / 1 pts Sweetness Candy Store has the following on its Balance Sheet: Cash = $10,000; Accounts Receivable = $3,000; Fixed Assets = $100,000; Owners Equity = $50,000; Total Liabilities = $100,000. Total Liabilities and Owners Equity = $150,000. Calculate the company's Inventory balance. Correct! $37,000 Correct! $13,000This study source was downloaded by 100000859819779 from CourseHero.com on 02-05-2023 14:01:02 GMT -06:00https://www.coursehero.com/file/187639361/W03-Study-and-Practicepdf/$150,000 $50,000 Question 3 1 / 1 pts Robert's Robots (RR) has $100,000 in total assets. Total owners equity is $45,000. RR has accrued $25,000 in long term debt. What is RR's current liabilities balance? $70,000 Correct! $30,000 Correct! $25,000 $100,000 Question 4 1 / 1 pts Gross Profit is computed as . EBIT - Interest