Using the following information, complete the Balance sheet given below Total debt to net worth 1 2 Total assets turnover 2 Gross profits on sales 30 Avergaecollection period 40 days (Assuming 360 days in a year) Inventory turnover ratio 3 (based on cost of goods sold and year end inventory) Acid test ratio 0 75 Balance Sheet as on March 31, 2016 Liabilities Amount Assets Amount Equity Share capital 400,000 Plant and machinery Reserves and surplus 600,000 Inventory CurrentLiabilites Debtors Cash

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Question: Using the following information, complete the Balance sheet given below: Total debt to net worth 1:2 Total assets turnover 2 Gross profits on sales 30%

Using the following information, complete the Balance sheet given below:

Total debt to net worth

1:2

Total assets turnover

Gross profits on sales

30%

Avergaecollection period

40 days

(Assuming 360 days in a year)

Inventory turnover ratio

(based on cost of goods sold and year end inventory)

Acid test ratio

0.75

Balance Sheet

as on March 31, 2016

Liabilities

Amount

Assets

Amount

Equity Share capital

400,000

Plant and machinery

Reserves and surplus

600,000

Inventory

CurrentLiabilites

Debtors

Cash

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