15) (12 points) Compute the Balance Sheet and sales information using the following financial data: Total asset turnover 1.5x Days sales outstanding (average collection period) 36.5 days (based on 365 day year) Inventory turnover ratio (use CO GS) 5.0x Current Ratio 2.0x Fixed Assets Turnover 3.0x Gross Margin 25% Balance Sheet Current Liabilities Accounts Receivable Long Term Debt 60,000 Inventories Common Stock Fixed Assets Retained Earnings 97.500 Total Assets 300,000 Total Liabilities & Equity Sales Information Sales Cost of Goods Sold Cash 16) (12 points) Loan officer Winslow Kremer at the Bank of Marion County has warned Blue Moon Corporation that it has insufficient liquidity and may not qualify for future loans from the bank. The companies CFO has suggested three possible strategies for increasing the firms liquidity. Please help this poor soul, because two of the strategies will not work. Identify the correct strategy and explain why the other two will not increase liquidity and this one will Possible strategies A. Sell new shares of stock and use the proceeds to retire the existing long term bonds due in 8 years. B. Sell surplus fixed assets and use the proceeds to reduce notes payable. C. Use marketable securities to purchase additional inventory