Question: Use the following industry average ratios to construct a pro forma balance sheet. Total asset turnover: 2.4 times Average collection period (assume 365 day year):

Use the following industry average ratios to construct a pro forma balance sheet.

Total asset turnover: 2.4 times

Average collection period (assume 365 day year): 9.1 days

Fixed asset turnover: 5.4 times

Inventory turnover: 2.8 times

Current ratio:2.1 times

sales (all on credit): $3.65 million

Cost of goods sold: 79% of sales

Debt ratio:50%

The company's current liabilities are?

The company's long-term debt is?

The company's common equity is?

The current cash amount is?

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