Question: please help USE THE FOLLOWING INFORMATION TO CONSTRUCT A BALANCE SHEET TO ANSWER QUESTIONS 44 through 47 Financial Data for Spinaway, Inc. (Unless otherwise noted,

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please help USE THE FOLLOWING INFORMATION TOplease help USE THE FOLLOWING INFORMATION TO
USE THE FOLLOWING INFORMATION TO CONSTRUCT A BALANCE SHEET TO ANSWER QUESTIONS 44 through 47 Financial Data for Spinaway, Inc. (Unless otherwise noted, all data is for December 31, 2020) Number of shares outstanding 125,000 Average collection period (days) 60 Sales $4,200,000 Accounts payable days 90 Gross profit margin 25% Retained earnings (Dec 31, 2019) $402,000 Inventory turnover ratio 6 Dividend payout ratio 80% Notes payable $80,000 Accruals $20,000 Net profit margin 15% Current ratio 1.2 Return on assets 7.5% Debt ratio 40% Percent of sales on credit 70% Par value per share $5.00 Assume a 360-day year and assume that the only accounts on the balance sheet are those listed below. Fill in this chart with the data provided and then answer questions 44, 45, 46 and 47. Cash Notes payable Accounts receivable Accounts payable Inventory Accruals Current assets Current liabilitiesGross fixed assets Long-term debt Accumulated depreciation Total liabilities Net fixed assets Equity Land Total liab. & equity Total assets 44. Cash = 45. Total liabilities = 46. Total shareholder equity = 47. Total assets =

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