Question: Using the following information, complete the balance sheet given below: Total debt to net worth: 0.5 to 1. Turnover of total assets (based on year-end

Using the following information, complete the balance sheet given below: Total debt to net worth: 0.5 to 1. Turnover of total assets

Total debt to net worth: 0.5 to 1. Turnover of total assets (based on year-end sales figures): 2. Gross profit: 30 per cent Average collection period (based on 360-day-year): 40 days Inventory turnover (based on cost of goods sold and year-end inventory): 3 times. Acid test ratio: 0.75:1.

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