Question: Table 3.1 Balance Sheet Cole Eagan Enterprises December 31, 2013 Assets Cash 4,500 S 10,000 Liabilities Account payable Notes payable Accruals. Accounts receivable Inventory 1,000

Table 3.1 Balance Sheet Cole Eagan Enterprises December 31, 2013 Assets Cash 4,500 S 10,000 Liabilities Account payable Notes payable Accruals. Accounts receivable

Table 3.1 Balance Sheet Cole Eagan Enterprises December 31, 2013 Assets Cash 4,500 S 10,000 Liabilities Account payable Notes payable Accruals. Accounts receivable Inventory 1,000 Total current assets Total current liabilities Net Fixed Assets Long-Term Debt Stockholders' Equity Total assets Total liabilities and Stockholders' Equity Information (2013 values) 1. Sales totaled $110,000 2. The gross profit margin was 25 percent. 3. Inventory turnover was 3.0. 4. There are 360 days in the year. 5. The average collection period was 65 days. 6. The current ratio was 2.40. 7. The total asset turnover was 1.13. 8. The debt ratio was 53.8 percent. Inventory for CEE in 2013 was (See Table 3.1) O A. $ 9,167 O B. $32,448 OC. $27,500 OD. $36,667

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