Total Assets Turnover = Sales / Total Assets 0.80 = $245,000 / Total Assets Total Assets = $306,250

Total Debt to Total Assets = Total Debt /Total Assets * 100 30.83 = Total Debt / $306,250 * 100 Total Debt = $94,417

Total Equity = 306250* (100%-30.83%)Total Equity = 211833.1

Fixed Assets Turnover = Sales / Fixed Assets 1.1 = $245,000 / Fixed Assets Fixed Assets = $222,727

Total Assets = Current Assets + Fixed Assets $306,250 = Current Assets + $222,727 Current Assets = $83,523

Average daily credit Sales = Credit Sales / No. of days in a year Average daily credit Sales = $245,000 / 360 Average daily credit Sales = $680.56

Receivable = Average daily credit Sales * Average Collection Period Accounts Receivable = $680.56 * 29.68 Accounts Receivable = $20,199

Inventory Turnover = Sales / Inventory

7.42 = $245,000 / Inventory Inventory= $33,019

Current Ratio = Current Assets / Current Liabilities

4.04 = $83,523 / Current Liabilities

Current Liabilities = $20,674

Complete the following balance sheet from the calculations above. [Hint: Current assets = Total assets - Fixed assets. Long-term liabilities= Total liabilities - Current liabilities. Cash= Current assets Accounts receivable - Inventory].