Question: Use the following industry average ratios, to construct a pro forma balance sheet, for Mendoza Distributors, Inc. The company's cost of goods sold is $

Use the following industry average ratios, to construct a pro forma balance sheet, for Mendoza Distributors, Inc. The company's cost of goods sold is $ nothing. (Round to the nearest dollar.) The company's total assets are $ nothing. (Round to the nearest dollar.) The company's fixed assets are $ nothing. (Round to the nearest dollar.) The company's accounts receivable is $ nothing. (Round to the nearest dollar.) The company's inventories are $ nothing. (Round to the nearest dollar.) The company's current liabilities are $ nothing. (Round to the nearest dollar.) The company's total liabilities are $ nothing. (Round to the nearest dollar.) Complete Mendoza Distributors' balance sheet below:(Round to the nearest dollar.)

Total asset turnover

2.4 times

Average collection period (assume a 365-day year)

8.5 days

Fixed asset turnover

5.3 times

Inventory turnover (based on cost of goods sold)

2.8 times

Current ratio

2.2 times

Sales (all on credit)

$3.61

million

Cost of goods sold

79%

of sales

Debt ratio

53%

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