Complete the 2015 end of year balance sheet and income statement using the following financial data. Determine inventory at the end of 2015 as a percentage of sales for 2015 (i.e., inventory divided by sales). Current ratio: 2.20x Quick (Acid Test) Ratio: 1.20x Return on Assets: 15.36% Days Sales Outstanding (360-day year): 60 days [AR / (Sales / 360) ] Total Asset Turnover: 0.60x Interest rate on long-term debt: 10.0% F09E312.png Enter your answer to 4-decimal places. For example, if your answer is 8.22%, enter "0.0822".

\begin{tabular}{||l|c||} \hline \hline Income Statement & 2015 \\ \hline \hline Sales & \\ \hline Cost of Goods Sold & \\ \hline Operating Expenses & $125,000.00 \\ \hline EBIT & \\ \hline Interest Expense & $70,000.00 \\ \hline EBT & \\ \hline Taxes (40%) & \\ \hline Net Income & \\ \hline \hline \end{tabular} \begin{tabular}{||l|c|l|l|c||} \hline \hline Balance Sheet & 2015 & & & 2015 \\ \hline \hline Cash & & & Accounts Payable & $750,000.00 \\ \hline Accounts Receivable & & & Accrued Wages & \\ \hline Inventory & & & Long-term Debt & \\ \hline \multicolumn{1}{|c|}{ Current Assets } & & & Total Liabilities & $1,700,000.00 \\ \hline Fixed Assets & & & Stockholders' Equity & \\ \hline Total Assets & $5,000,000.00 & & Total Liabilities \& Equity & \\ \hline \hline \end{tabular}