ANSWER ONLY

1.Brewster Company's debt-to-equity ratio is 0.80. Current liabilities total P50,000 and long term liabilities total P200,000. Brewster Company's total assets must be P ____

2.

Selected data from Jerry Corporation's financial statements follow:

	Current ratio	3.0
	Acid-test ratio	1.75
	Current liabilities	P120,000
	Inventory turnover	8
	Gross profit margin as a percentage of sales	40%

The company has no prepaid expenses and there were no changes in inventories during the year. Jerry Corporation's net sales for the year were P _______________