Complete the following balance sheet using the information given below. Round account balances to the nearest dollar. This question will be marked out of 36.

Income Statement			Ratios:
Sales (All Credit)	$ 80,000		Return on Equity =	12.5%
Cost of goods sold	$ 56,000		Quick Ratio =	1.2
Operating expenses	$ 12,000		Return on Total Assets =	7.0%
Interest expense	$ 1,200		Fixed Asset Turnover =	1.6
Taxes	$ 2,400		Current Ratio =	4
Net income	$ 8,400		Days Sales Outstanding =	73

Balance Sheet
Cash			Accounts payable
Accounts receivable			Short-term notes payable	$ 7,500
Inventory			Current Liabilities
Current Assets
			Long-term debt
Net fixed assets
			Common stock	$ 24,000
			Retained earnings
			Total Equity
Total assets			Total Liabilities and equity