Question: Balance sheet completion using ratios Complete the 2003 balance sheet for O'Keefe Industries using the information that follows it. The following financial data for 2003

Balance sheet completion using ratios Complete the 2003 balance sheet for

Balance sheet completion using ratios Complete the 2003 balance sheet for O'Keefe Industries using the information that follows it. The following financial data for 2003 are also available: (1) Sales totaled $1, 800,000. (2) The gross profit margin was 25%. (3) Inventory turnover was 6.0. (4) There are 360 days in the year. (5) The average collection period was 40 days. (6) The current ratio was 1.60. (7) The total asset turnover ratio was 1.20. (8) The debt ratio was 60%

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