1. Prepare a balance sheet Place the appropriate account in the balance sheet and the appropriate amount. If the item does not belong on a balance sheet do not put the item on the balance sheet. Cash = $270,000; Notes payable = $300,000; Receivables Turnover = 20; Sales = $5,000,000; Total current assets = $750,000; Net working capital = $350,000; Total assets = $10,000,000; Retained earnings = $2,500,000; Common Stock = ?; Fixed Assets = ?; Accounts Payable = ? Inventory = ? no cash-cash equivalents: LLENOS recovable - Inventory Prepaid ey Peuses - Property 2 e qui prop! ABC Company Balance Sheet December 31, 2018 Assets Current Assets 1 Liabilities Current Liabilities 2 3 2,000,000 Total Current Assets Long term assets: Total Current Liabilities Long term Debt Total Liabilities Equity Total Assets Total Liabilities and Equity