Question: 4. Using the following information, complete the balance sheet Long-term debt to equity Total asset turnover Average collection period Inventory turnover Gross profit margin Acid-test
4. Using the following information, complete the balance sheet Long-term debt to equity Total asset turnover Average collection period Inventory turnover Gross profit margin Acid-test ratio 0.5 to 1 2.5 times 18 days 9 times 0% 1 to 1 Assume a 360-day year and all sales on credit. Notes and payables Long-term debt Common stock Retained earnings Total liabilities and $100,000 Cash Accounts receivable Inventory Plant and equipment Total assets S100,000 $100,000 shareholders' equity
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