PRINTER VERSION 4 BACK NEXT Presented below is the information for Blossom Corp. 1. Assume average balances equal ending balances for the purpose of this exercise. 2. The receivables turnover ratio is 11.4 times and net credit sales are $1,949,400. 3. The inventory turnover ratio is 6.5 times and cost of goods sold is $1,267,500. 4. The current ratio is 2:1. 5. The debt to total assets ratio is 60%. Calculate the missing information using the ratios and complete the balance sheet for Blossom Corp. (Hint: Start with one ratio and get as much information as possible from it before trying another ratio. You may not be able to calculate the missing amounts in the same sequence as they are presented below.) BLOSSOM CORP. Balance Sheet December 31, 2021 Assets Current assets Cash Accounts receivable $19,910 Inventory Total current assets Non-current assets 385,910 435,070 Total assets $ Liabilities and Shareholders' Equity Current liabilities Non-current liabilities Total liabilities Shareholders' equity Total liabilities and shareholders' equity