Question:
The following information is from Harrelson Inc.’s financial statements. Sales (all credit) were $20 million for 2010
Sales to total assets 2 times
total debt to total assets 30%
Current ratio 3.0 times
Inventory turnover 5.0 times
Average collection period 18days
Fixes asset turnover 5.0
Fill in the balance sheet:
cash __________ Current debt ____________
Accounts receivable __________ Long-term debt ____________
Incentory __________ Total debt ____________
Total current assets __________ Equity ____________
Fixed assets __________ Total debt and equity ____________
Total assets _________