Complete the balance sheet and sales information in the table that follows for Hastings Software Company, using the following financial data:

Quick ratio = 0.80 times

Average collection period = 36 days

Debt ratio = 50 percent

Total asset turnover ratio = 1.5 times

Gross profit margin = 25 percent

Inventory turnover ratio = 5 times

Balance Sheet

Cash _________ Accounts payable _________

Accounts Receivable _________ Long-term debt 40,000

Inventory _________ Common stock _________

Total current assets _________ Retained earnings 65,000

Net fixed assets _________ Total liabilities & Stockholders equity _________

Total assets 200,000

Sales __________

Cost of goods sold __________

NOTE: Use 360 days in your calculations.