8. Financial statements and ratios Aa Aa An analyst is conducting a financial analysis of Harmony Inc. She doesn't have Harmony's full financial statements, but she knows the firm had accounts payable of $100 million and accounts receivable of $200 million. Harmony generated sales of $2,000 million and had cost of goods sold of $1,600 million, resulting in net income of $100 million. She also has the following financial ratio information: Current ratio Inventory turnover ratio Fixed asset turnover ratio ROE ROA 1.25 times 16 times 4 times 25.0% 10.0% The ratios calculated above use end-of-year balance sheet values, rather than average values. Complete this balance sheet based on the ratios and income statement data. All figures are in millions of dollars Harmony Inc.: December 31 Balance Sheet $300 Accounts payable Cash Accounts receivable Inventories Current assets $ 100 $300 $400 200 $600 400 Total liabilities and equity$1,000 $200 $100 $500 Notes payable Current liabilities Long-term debt Total liabilities Total common equity Net fixed assets Total assets $500 $ 1,000