Builtrite Bakery is a new firm specializing in all natural ingredient pastry products. In attempting to determine what the financial position of the firm should be, the financial manager obtained the following average ratios for the baking industry for 2022: Common equity / total assets Total assets turnover Long-term debt / total assets Current ratio Quick ratio Average collection period (360-day year) Complete the accompanying projected balance sheet for Builtrite Bakery assuming 2023 sales (all credit) are $13,500,000. Builtrite Bakery projected Balance Sheet ending December 31, 2023 Current Liabilities Cash Accts. Receivable Inventory Tot. Current assets Fixed assets Total Assets 60% 3 times 20% 1.2 .75 6 days O $2,100,000 O $1,800,000 O $1,200,000 $1.000.000 Long Term Debt Total Debt Common Equity Based upon the above information, the level of total debt equals: Tot. Liabilities & equity

Builtrite Bakery is a new firm specializing in all natural ingredient pastry products. In attempting to determine what the financial position of the firm should be, the financial manager obtained the following average ratios for the baking industry for 2022: Complete the accompanying projected balance sheet for Builtrite Bakery assuming 2023 sales (all credit) are $13,500,000. Builtrite Bakery projected Balance Sheet ending December 31, 2023 Based upon the above information, the level of total debt equals: $2,100,000 $1,800,000 $1,200,000 $1000,000