(Pro forma balance sheet construction) Use the following industry-average ratios to construct a pro forma balance sheet for Karen's Beauty Products, Inc. Total asset turnover 1.5 times Average collection period (assume 365-day year) 16 days Fixed asset turnover 6 times Inventory turnover (based on cost of goods sold) 3 times Current ratio 1.9 times Sales (all on credit) 4,000,000 Cost of goods sold 80% of sales Debt ratio 60%

Fill in the assets section of the pro forma balance sheet.(Round all items to the nearest dollar.)

Cash	$nothing
Accounts receivable	nothing
Inventories	nothing
Net fixed assets	nothing
Total assets	$nothing

Fill in the liabilities and common equity section of the pro forma balance sheet.(Round all items to the nearest dollar.)

Current liabilities	$nothing
Long-term debt	nothing
Total liabilities	$nothing
Common equity	nothing
Total liabilities and common equity	$nothing