Given the following information, complete the balance sheet below:
Current ration (Current Assets/Current Liabilities) = 1.5
Debt/equity (Total Liabilities/Net Worth) = .4
Asset turnover (Total Sales/Total Assets) = 2.0
Gross margin (Sales - Cost of Goods Sold) = 20%
Inventory turnover (Sales/Inventory) = 14
Assets Liabilities
Current Assets: Current Liabilities:
Cash 4,000 Acc't Payable 10,000
Acc't Receivable Accrued Expenses
Inventory
Total C. A. Total C. L.
Long Term Liabilities:
Mortgage 20,000
Fixed Assets:
Buildings Net Worth
Land 60,000 Retained Earnings 100,000
Total F.A.
TOTAL ASSET Total Liabilities &
Net Worth ____
Sales ____
Cost of Goods Sold ____
Gross Margin ______