Using the information below, recreate the financial statements for Imperial Products, Inc. (Condensed Balance Sheet and Condensed Income Statement) *when
completing the statement, you may round to the nearest $1.00, use the values exactly as presented below to prevent rounding errors. Cash- $30,000 Total Revenues-
$12,000,000 Fixed Asset Turnover Ratio- 4.8 times Other Expense- $500,000 Notes Payable- $75,000 Return On Assets- $11.005% Average Collection Period- 18 days
Basic Earing Power- 20% Common Stock- $350,000 Marketable Securities- $120,000 Inventory Turnover Ratio- 6 times Cost Of Sales- 62.5% of total revenues Debt Ratio-
.625 times Times Interest Earned Ratio- 4 times Other Long Term debt- $450,000 Return On Equity- 27.5017235%
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