Problem 4

Given the following information:

Total asset turnover	2.5 times
Accounts receivable turnover	25 times
Fixed asset turnover	5 times
Inventory turnover (based on cost of goods sold)	5 times
Current ratio	2
Sales (all on credit)	$6,000,000
Cost of goods sold	60% of sales
Debt ratio	50%

Calculate the following:

Cash
Accounts receivable
Inventories
Net fixed assets
Total assets
Current liabilities
Long-term debt
Total liabilities
Common equity
Total liabilities and common equity