- X Data Table (Click on the following icon in order to copy its contents into a spreadsheet.) Total asset turnover 1.6 times Average collection period (assume 365-day year) 16 days Fixed asset turnover 4 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 70% of sales Debt ratio 60% Print Done (Pro forma balance sheet construction) Use the following industry-average ratios to construct a pro forma balance sheet for Karen's Beauty Products, Inc.: 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