The following information is from Harrelson Inc.'s, financial statements. Sales (all credit) were $21.60 million for last year.

Sales to total assets	1.80	times
Total debt to total assets	40	%
Current ratio	3.00	times
Inventory turnover	4	times
Average collection period	25	days
Fixed asset turnover	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.)

	$ in millions		$ in millions
Cash		Current debt
Accounts receivable		Long-term debt
Inventory		Total debt
Total current assets
Fixed assets		Equity
Total assets		Total debt and stockholders' equity

Answer rating: 100% (QA)

Answer Ans ASSETS in millions LIABILITIES in millions Cash 078 Current debt 256 Accounts receivables ... View the full answer