Question: Construct the current assets section of the balance sheet from the following data. (Use cash as a plug figure after computing the other values.) (Use

Construct the current assets section of the balance sheet from the following data. (Use cash as a plug figure after computing the other values.) (Use a 360-day year. Do not round intermediate calculations.)

Yearly sales (credit) $ 986,000
Inventory turnover 17 times
Current liabilities $ 92,000
Current ratio 2
Average collection period 36 days

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