The following ratios have been computed for Morgan Company for 2014. 
Morgan Company's 2014 financial statements with missing information follow: 
Instructions
Use the above ratios and information from the Morgan Company financial statements to fill in the missing information on the financial statements. Follow the sequence indicated. Show computations that support your answers.
Correct Answer:
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(1) Net income = $25000 ($200000 × 12.5...View Answer
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