Given the following information, complete the balance sheet shown next. Collection period 66 days Days...
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Accounting
Given the following information, complete the balance sheet shown next. Collection period 66 days Days sales in cash 32 days Current ratio 2.3 Inventory turnover 5 times Liabilities to assets 70% Payables period 37 days (All sales are on credit. All calculations assume a 365-day year. The payables period is based on cost of goods sold.)
Assets
Current assets:
Cash $1,500,000
Accounts receivable ?
Inventory 2,000,000
Total current assets ?
Net xed assets ?
Total assets $900,000
Liabilities and shareholders equity
Current liabilities:
Accounts payable ?
Short-term debt ?
Total current liabilities ?
Long-term debt ?
Shareholders equity ?
total liabilities and equity $9,000,000
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