Question: Prepare a Balance Sheet based upon the availability of the following figures: LT Debt to Equity = .50 to 1.0 Total Asset Turnover = 2.5

Prepare a Balance Sheet based upon the availability of the following figures:

LT Debt to Equity = .50 to 1.0

Total Asset Turnover = 2.5

Avg. Collection Period = 18 days (all credit)

Inventory Turnover = 9.0

Gross Profits = 10.0%

Quick Ratio = 1.0

ASSETS LIABILITIES

Cash ________________ Notes and A/C Pay. $ 100,000

A/C Recv. ________________ Long Term Debt ______________

Inventory ________________ Common Stock $ 100,000

Fixed Assets ________________ Retained Earnings $ 100,000

TOTAL ASSETS - ________________ TOTAL LIAB. _______________

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