Q3) Complete the following balance sheet using the information given. Round account balances to the nearest dollar. (Please show your work) (20 points)

Balance Sheet			Income Statement
Cash			Sales (All Credit)	$20,000
Accounts receivable			Cost of goods sold	10,000
Inventory			Operating expenses	6,000
Net fixed assets			Interest expense	100
Total assets			Taxes	1,365
			Net income	$2,535
Accounts payable
Short-term notes payable	$1,425		Ratios:
Long-term debt			Profit Margin =	12.675%
Common stock	$4,000		Return on Equity =	15%
Retained earnings			Quick Ratio =	1.3
Total Liabilities and equity			Return on Total Assets =	10%
			Fixed Asset Turnover =	1.6
			Current Ratio =	2
			Days Sales Outstanding =	45