Complete the balance sheet for General Aviation, Inc. based on the following financial data.

Balance Sheet

General Aviation, Inc.

December 31, 2014

Key Financial Data (2014)

1. Sales totaled $720,000.

2. The gross profit margin was 38.7 percent.

3. Inventory turned 6 times.

4. There are 360 days in a year.

5. The average collection period was 31 days.

6. The current ratio was 2.35.

7. The total asset turnover was 2.81.

8. The debt ratio was 49.4 percent.

9. Total current assets equal $159,565.

Assets Cash Marketable securities Accounts receivable inventories Total current assets Gross fixed asse Less: Accumulated depreciation Net fixed assets Total assets $ 8,005 ts $%50,000 Liabilities and Stockholders' Equi Accounts pavable $%28,800 Notes pavable Accruals $18,800 Total current liabilities Long-term debts Total liabilities Stockholders' equity Preferred stock Common stock at par Paid-in capital in excess of par Retained earnings 2,451 30,000 6,400 90,800 Total stockholders' equity Total liabilities and stockholders' equit