Completed the following Balance sheet assuming a 360 days YEAR (360 DAYS)

a. collection period 14 days

b.inventory turnover: Six times sales

c. working capital requirements/sales: 20%

d.liabilities/total assets: 60%

e.cash in days of sales: 20 days

f.short-term debt:10% of total fiancial debt

g.what is the Current Ratio?

h.what is the Quick Ratio?

i. What do these ratios mean?

Remarks: SHOW YOUR WORK , STEP BY STEP , INSERT FORMULAS AND EXCEL

BALANCE	SHEET	BALANCE	SHEET
CASH	$400,000	SHORT TERM DEBT
A/R		A/P
INVENTORY
TOTAL CURRENT ASSETS		TOTAL CURRENT LIABILITIES
NET FIXED ASSETS		LONG TERM DEBT
		OWNER'S EQUITY
TOTAL ASSETS	5,000,000.00	TOTAL LIABILITIES & OE	=====