Use the following industry-average ratios to construct a pro forma balance sheet for Karen's Beauty Products, Inc.

Total asset turnover 1.5 times Average collection period (assume 365-day year) 15 days Fixed asset turnover 5 times Inventory turnover (based on cost of goods sold) 2 times Current ratio 1.9 times Sales (all on credit) 3,000,000 Cost of goods sold 70% of sales Debt ratio 60%

Part 1

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	$