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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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