Question: Complete the balance sheet using the following information: Quick Ratio: 2.0 ROE: 16% ACP: 40 ROA: 10% GPM: 20% Inventory T/O: 10 Debt-to-Equity Ratio: 60%

  1. Complete the balance sheet using the following information:

Quick Ratio: 2.0 ROE: 16%

ACP: 40 ROA: 10%

GPM: 20% Inventory T/O: 10

Debt-to-Equity Ratio: 60% Total Asset T/O: 1.5625

Net Income: $80,000 Average Daily Credit Sales: $3,125

360 days per year

Balance Sheet

Cash __________ Current Liabilities __________

Accts. Receivable L-T Liabilities __________

Inventories __________ Total Liabilities __________

T. Current Assets __________ Stockholders Equity __________

Net Fixed Assets 500,000 Total Liabilities

Total Assets __________ & Equity __________

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