Question: We are given the following information for Pettit Corporation. Sales (credit) Cash Inventory Current liabilities Asset turnover Current ratio Debt-to-assets ratio Receivables turnover $2,525,000 248,000

We are given the following information for Pettit Corporation. Sales (credit) Cash Inventory Current liabilities Asset turnover Current ratio Debt-to-assets ratio Receivables turnover $2,525,000 248,000 944,000 842,000 1.15 times 2.40 times 45 % 5 times Current assets are composed of cash, marketable securities, accounts receivable, and inventory Calculate the following balance sheet Items: a. Accounts receivable b. Marketable securities C. Capital assets d. Long-term debt $ $ $

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