2. Using Balance Sheet and Income Statement below calculate the missing information shown as X. Put your results in corresponding sections in balance sheet. (50 MARKS) Cash 12,000 Accounts Payable Notes Payable 300 250 X Account Receivable Inventories Net Sales (Opr. Cost) EBIT (Interest) 1,500 X Long Term Debt X Fixed Assets EBT Equity X (Tax) Net Income TOTAL ASSETS 8,250 TOTAL LIABILITIES X Ratios Equation Results Cash Ratio: 2.5 Cash Account Receivables Turnover: 6 AR Inventory turnover: 3 Opr. Cost = Return on Equity: 0.86 Equity = ..... Tax Rate: 40% Interest Expense is 20% of EBIT