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(A)Total Assets Turnover = Sales / Total Assets 0.80 = $245,000 / Total Assets Total Assets = $306,250

(B)Total Debt to Total Assets = Total Debt /Total Assets * 100 30.83 = Total Debt / $306,250 * 100 Total Debt = $94,417

(C) Total Equity = 306250* (100%-30.83%)

Total Equity = 211,833

(D)Fixed Assets Turnover = Sales / Fixed Assets 1.1 = $245,000 / Fixed Assets Fixed Assets = $222,727

(E)Total Assets = Current Assets + Fixed Assets $306,250 = Current Assets + $222,727 Current Assets = $83,523

(F)Average daily credit Sales = Credit Sales / No. of days in a year Average daily credit Sales = $245,000 / 360 Average daily credit Sales = $680.56

(G) Receivable = Average daily credit Sales * Average Collection Period Accounts Receivable = $680.56 * 29.68 Accounts Receivable = $20,199

(H) Inventory Turnover = Sales / Inventory 7.42 = $245,000 / Inventory Inventory= $33,019

(I) Current Ratio = Current Assets / Current Liabilities 4.04 = $83,523 / Current Liabilities Current Liabilities = $20,674

Complete the following balance sheet from the calculation above. [Hint: Current assets = Total assets - Fixed assets. Long-term liabilities= Total liabilities - Current liabilities. Cash= Current assets Accounts receivable - Inventory].

Cash	$	Current Liabilities	$
Accounts Receivable	$	Long-term Liabilities	$
Inventory	$	Total Liabilities	$
Total Current Assets	$	Stockholders equity	$
Fixed Assets	$
Total Assets	$	Total Liabilities and Stockholders equity	$

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