Complete the balance sheet in the table that follows for the Wilson Tent Company for the year ending December 31, 2011 using the following information (if necessary, round figures to the nearest dollar): Sales $10,000,000 Net profit margin 4.0% Gross profit margin 25.0% Return on assets 10.0% Debt ratio 60.0% Inventory turnover ratio 7.5x Notes payable $500,000 Dividend payment in 2011 $250,000 Average collection period 45 days Days payable ratio 18 days Quick ratio 2.0x NOTE: 80 percent of Wilson Tent Company's sales are on credit. The rest are cash sales. Assume a 360-day year for all ratios. On its December 31, 2010 balance sheet, Wilson Tent Company reported Retained earnings of $1,250,000. Use this information to fill-in the balance sheet below for Wilson Tent Company. Balance Sheet For the Year Ending December 31, 2011 Cash Notes payable Accounts receivable Accounts payable Inventories Long-term debt Common stock Fixed assets Retained earnings Total Assets Total Liab. & Equity Complete the balance sheet in the table that follows for the Wilson Tent Company for the year ending December 31, 2011 using the following information (if necessary, round figures to the nearest dollar): Sales $10,000,000 Net profit margin 4.0% Gross profit margin 25.0% Return on assets 10.0% Debt ratio 60.0% Inventory turnover ratio 7.5x Notes payable $500,000 Dividend payment in 2011 $250,000 Average collection period 45 days Days payable ratio 18 days Quick ratio 2.0x NOTE: 80 percent of Wilson Tent Company's sales are on credit. The rest are cash sales. Assume a 360-day year for all ratios. On its December 31, 2010 balance sheet, Wilson Tent Company reported Retained earnings of $1,250,000. Use this information to fill-in the balance sheet below for Wilson Tent Company. Balance Sheet For the Year Ending December 31, 2011 Cash Notes payable Accounts receivable Accounts payable Inventories Long-term debt Common stock Fixed assets Retained earnings Total Assets Total Liab. & Equity