6 The following information has been extracted from the financial records of Mayank Ltd. Sales to Total Assets 0.4 out of Inventory Turnover 4 times question Shareholders' funds Rs. 600,000 Gross Profit ratio 25% Cash sales 20% of total sales Average collection days of debtors 60 Current ratio 2 "Long term debt/shareholders' funds 0.2 Gross profit Rs. 81,000 1 Take 360 days in a year You are required to prepare the company's balance sheet as follows: Liabilities Rs Assets Rs UU Current ratio 2 Long term debt/shareholders' funds 0.2 Gross profit Rs. 81,000 Take 360 days in a year You are required to prepare the company's balance sheet as follows: Liabilities Rs Assets Rs ? Cash & Bank ? Sundry Creditors Long Term Loan ? Sundry Debtors ? Shareholders' Funds ? Inventories ? ? Fixed Assets ? Total ? Total ? Since the accountant of Mr. Mayank has left job during the financial year, he need your help in preparing his balance sheet. Prepare the balance sheet and comment on his financial position. 1 A B TIT co