42. Cash = ____________. 43. Current assets = ____________. 44. Current liabilities = ____________. 45. Total liabilities = ____________. 46. Total shareholder equity = ____________.

Number of shares outstanding 90,000

Average collection period (days) 24

Sales $1,420,000 Accounts payable days 18

Gross profit margin 20% Retained earnings (Dec 31, 2021) $382,000

Inventory turnover ratio 8 Dividends paid in 2022 $75,000

Notes payable $21,000 Accruals $9,000

Net profit margin 8% Land $186,000

Return on assets 5.0% Debt ratio 68%

Percent of sales on credit 90% Par value per share $0.40

Gross fixed assets $3,642,000 Accumulated depreciation $1,840,000

Cash __________ Notes payable __________ Accounts receivable __________ Accounts payable __________ Inventory __________ Accruals __________ Current assets __________ Current liabilities __________ Gross fixed assets __________ Long-term debt __________ (Accumulated depreciation) __________ Total liabilitiies __________ Net fixed assets __________ Common stock __________ Land __________ Capital surplus __________ Total assets __________ Retained earnings __________ Total liab. & equity __________ Spinaway, Inc. Balance Sheet for the Year Ending December 31, 2022