• Complete the balance sheet for Delivery Specialists based on the following financial data:

 

Balance Sheet

Delivery Specialists

December 31, 2014

Assets
Cash	$8,005
Marketable   securities	-
Accounts   receivable
Inventories	-
Total current   assets
Gross fixed   assets	-
Less:   Accumulated depreciation	-$50,000
Net fixed   assets	-
Total assets
Liabilities   and Stockholders’ Equity
Accounts   payable	$28,800
Notes   payable
Accruals	$18,800
Total current   liabilities
Long-term   debts
Total   Liabilities
Stockholders’   equity
Preferred   stock	2,451
Common   stock at par	30,000
Pain-in   capital in excess of par	6,400
Retained   earnings	90,800
Total stockholders’ equity
Total liabilities and stockholders’   equity

 

Financial Data (2014)

1. Sales of $720,000.

2. The gross profit margin was 38.7 percent.

3. Inventory turned 6 times relative to cost of goods sold

4. Assume 360 days in a year.

5. The average collection period was 31 days.

6. The current ratio was 2.35.

7. The total asset turnover was 2.81.

8. The debt ratio was 49.4 percent.

9. Total current assets equal $159,565.

Can you help me to complete this balance sheet with the ratios provided?  Can you provide the equations that you used to fill in the appropriate areas?