Using the ratios as a basis for planning for next year, forecast the Lilac Company's Balance...

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Using the ratios as a basis for planning for next year, forecast the Lilac Company's Balance Sheet using the projected information below. Round to the nearest dollar. Fill in all blanks (a - I) and show all work. Use 365 days. Sales $24,000,000 Cash $900,000 Accruals $80,000 Gross margin 35% DSO 38 days Inventory turnover 6.0X (Based on COGS) Total Asset turnover 1.4X Current ratio 2.5 Debt: Equity 1:3 BALANCE SHEET Next Year ASSETS a. Cash b. Accounts receivable c. Inventory LIABILITIES & EQUITY g. Accounts payable h. Accruals i. Current Liabilities d. Current Assets j. Long-Term Debt Using the ratios as a basis for planning for next year, forecast the Lilac Company's Balance Sheet using the projected information below. Round to the nearest dollar. Fill in all blanks (a - I) and show all work. Use 365 days. Sales $24,000,000 Cash $900,000 Accruals $80,000 Gross margin 35% DSO 38 days Inventory turnover 6.0X (Based on COGS) Total Asset turnover 1.4X Current ratio 2.5 Debt: Equity 1:3 BALANCE SHEET Next Year ASSETS a. Cash b. Accounts receivable c. Inventory LIABILITIES & EQUITY g. Accounts payable h. Accruals i. Current Liabilities d. Current Assets j. Long-Term Debt