Use the following industry-average ratios to construct a pro forma balance sheet for Phoebe's Cat Foods Inc.

Data table Total asset turnover 1.4 times Average collection period (assume 365-day year) 16 days Fixed asset turnover 5 times Inventory turnover (based on cost of goods sold) 2 times Current ratio 2.0 times Sales (all on credit) $5,000,000 Cost of goods sold 75% of sales Debt ratio 50% (Click on the icon located on the top-right corner of the data table above in order to copy its contents into a spreadsheet.) Print Done Fill in the assets section of the pro forma balance sheet. (Round all items to the nearest dollar.) Cash $ Accounts receivable Inventories Net fixed assets Total assets Fill in the liabilities and common equity section of the pro forma balance sheet. (Round all items to the nearest dollar.) $ Current liabilities Long-term debt Total liabilities Common equity Total liabilities and common equity $ $