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 2018: Common equity /total assets Total assets turnover Long-term debt/ total assets Current ratio Quick ratio Average collection period (360-day year) 60% 3 times 20% 1.2 .75 10 days Complete the accompanying projected balance sheet for Builtrite Bakery assuming 2019 sales (all credit) are $5,400,000 Builtrite Bakery projected Balance Sheet ending December 31, 2019 Cash Current Liabilities Accts. Receivable Long Term Debt Inventory Total Debt Tot. Current assets Common Equity Fixed assets Tot. Liabilities & equity. Total Assets Based upon the above information, Total Debt equals: $720,000 $880,000 $1,060,000 $1,200,000