Complete the balance sheet Cash 30,000 Marketable securities 25,000 Accounts rec

Question

Complete the balance sheet

Cash 30,000

Marketable securities 25,000

Accounts receivable ???

Inventories ???

Total Current Assets ???

Net Fixed Assets ???

Total Assets ???

Accounts Payable 120,000

Line of Credit ???

Accurals 20,000

Total Current Liabilities ???

Long Term Debt ???

Shareholders equity ???

Total Liabailities and sharholders equity ???

The following is given:

Sales totaled 1,825,000

Gross margin was 25%

Average age of inventory was 60 days

average collection period was 40 days

the current ratio was 1.60

the total asset turnover ratio was 1,25

the debt ratio was 60%

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