Consider B&B Company’s financial data as follows: (units: millions of dollars expect ratio figures): Cash and marketable securities $2,000 Fixed assets $6, 500 Sales $20, 500 Net income $4, 100 Inventory $3, 250 Current ratio 2.8 Average collection period 40 days Average common equity $10,000 Fill in the blanks by calculating the appropriate accounting entries in the balance or the income statement. Show transcribed image text Consider B&B Company’s financial data as follows: (units: millions of dollars expect ratio figures): Cash and marketable securities $2,000 Fixed assets $6, 500 Sales $20, 500 Net income $4, 100 Inventory $3, 250 Current ratio 2.8 Average collection period 40 days Average common equity $10,000 Fill in the blanks by calculating the appropriate accounting entries in the balance or the income statement.
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