Question: Problem 3-35 Using ratios to construct financial statements [LO3-2] The following information is from Harrelson Inc.'s, financial statements. Sales (all credit) were $30.60 million for

Problem 3-35 Using ratios to construct financial statements [LO3-2] The following

Problem 3-35 Using ratios to construct financial statements [LO3-2] The following information is from Harrelson Inc.'s, financial statements. Sales (all credit) were $30.60 million for last year Sales to total assets Total debt to total assets Current ratio Inventory turnover Average collection period Fixed asset turnover 1.80 times 40 % 2.40 times 6 times 19 days 5 times Complete the balance sheet: (Use a 360-day year. Do not round intermediate calculations. Input your answers in millions rounded to 2 decimal places.) Answer is complete but not entirely correct S in millions $ in millions $4.16Current debt Cash Accounts receivable Inventory 1.62Long-term debt 5.10Total debt 4.53 2.27 6.80 Total current assets Fixed assets $10.88 1Equity 0.20 4.16 17.00 Total debt and stockholders UI Total assets

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