The following information is from Harrelson Inc.'s financial statements. Sales (all credit) were $28.5 million for...

 

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The following information is from Harrelson Inc.'s financial statements. Sales (all credit) were $28.5 million for last year. Sales to total assets Total debt to total assets Current ratio Inventory turnover Average collection period Fixed asset turnover Fill in the balance sheet Cash Accounts receivable Inventory. Total current assets Fixed assets Total assets Current debt Long-term debt Total debt Equity Total debt and equity 1.9 times 35% 2.5 times 10 times 20 days 5 times The following information is from Harrelson Inc.'s financial statements. Sales (all credit) were $28.5 million for last year. Sales to total assets Total debt to total assets Current ratio Inventory turnover Average collection period Fixed asset turnover Fill in the balance sheet Cash Accounts receivable Inventory. Total current assets Fixed assets Total assets Current debt Long-term debt Total debt Equity Total debt and equity 1.9 times 35% 2.5 times 10 times 20 days 5 times

Answer rating: 100% (QA)

The provided financial ratios and sales information can help us fill out the balance sheet for Harrelson Inc Lets go through the ratios one by one and calculate the missing balance sheet items 1 Sales ... View the full answer