$30,000 $20,000 $50,000 Problem 3 The Balance Sheet of YYY Ltd. is as follows: ASSETS Current Assets Cash Accounts receivable Raw materials and inventory Finished goods inventory Total Current Assets Long-Tem Assets Equipment Buildings Land Total Long-Tem Assets TOTAL ASSETS $700,000 $2,000,000 $400,000 $3,500,000 $4,200,000 $10,000 $60,000 $70,000 LIABILITIES & OWNERS' EQUITY Current Liabilities Accounts payable Current loans Total Current Liabilities Long-Term Liabilities Long-term loans TOTAL LIABILITIES Owners' Equity Common stock Retained earnings TOTAL OWNERS' EQUITY TOTAL LIABILITIES & OWNERS' EQUITY $970,000 $2,130,000 $3,230,000 1) Plug the missing values in the balance sheet. 2) If the sales of this company are $5,400,000, what is the company's inventory-turnover ratio