Cullumber Corporation Balance Sheet as of December 31, 2017 Liabilities and Equity: Assets: Cash and marketable securities Accounts payable and accruals Accounts receivable Notes payable 300,000 Inventory Total current assets Total current liabilities Long-term debt $2,000,000 Net plant and equipment Common stock Retained earnings $1,250,000 Total assets $8,000,000 Total liabilities and equity You have the following information: Debt ratio DSO Current ratio Inventory turnover ratio Net sales Cost of goods sold = 45% 40 days = 1.34 - 5.000 = $2.51 million = $2.2710 million