2. Please prepare the statement of financial position (balance sheet) by using the data given below; and assess the company in terms of credit worthiness. Retained Earnings, beginning Gross Profit Margin Liquidity (Asit-Test) Ratio Fixed Assets Days in inventory $98,000 25% 2.50 $280,000 45 days Average Collection Period 18 days Equity / Debt 4 Sales (all in credit) $920,000 10,000 outstanding shares with $15 par value; issued at $21/share Operating expenses (excluding COGS and taxes) is $180,000. Tax rate is 40%. Consider a year as 360 days. Company has not paid cash dividends in last 2 years. Current assets include cash and cash equivalents, accounts receivable and inventories items