Given below are selected balance sheet items and ratios as June 30, 2016 for the Pierre and Edward's School of Accounting which issues erasers instead of diplomas to its graduates. Total stockholders' equity (includes 100,000 shares of no-par value capital stock issued at $6 per shar. Plant and equipment (net). Asset turnover rate per year (sales+ total assets...3 times Inventory turnover rate per year.6 times Gross profit percentage . Ratio of current liabilities to stockholders' equity 1,000,000 . 470,000 30% .. (there is no long-term debt.. 1.2 to 1 .. 0.8 to 1 Acid-test ratio (quick rato. Assume that balance sheet figures represent average amounts and that all sales are made on account. INSTRUCTIONS: From the foregoing information, construct a balance sheet for the corporation as of June 30, 2015, is as much details as the data permits