Using ratios to construct financial statements. Please show your calculations as outlined in the text. The following information is from Harrelson, Inc.s, financial statements. Sales (all credit) were $20 million for 2010.

Sales to total assets........................................ 2 times

Total debt to total assets................................ 30%

Current ratio................................................... 3.0 times

Inventory turnover......................................... 5.0 times

Average collection period.............................. 18 days

Fixed asset turnover....................................... 5.0 times

Fill in the balance sheet by using the ratios:

Cash.................................... ______ Current debt.......................................... ______

Accounts receivable............ ______ Long-term debt..................................... ______

Inventory............................ ______ Total debt............................................ ______

Total current assets........... ______ Equity................................................... ______

Fixed assets......................... ______ Total debt and equity.......................... ______

Total assets........................ ______