Given the following facts, complete the balance sheet that follows. (Assume all sales are credit sales, ratios are based on a 365-day year, and the payables period is based on sales.)AppendixLO1

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Collection period Days' sales in cash Current ratio Inventory turnover 30 days 2 days 1.7 times 6 times 55 percent Liabilities-to-assets Payables period 18 days Assets Cash $ 100,000 Accounts receivable Inventory Total current assets Net fixed assets 800,000 Total assets Liabilities and Owners' Equity Accounts payable Short-term debt Total current liabilities Long-term debt Shareholders' equity Total liabilities & equity $4,500,000