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Current ratio = 2.6 times Credit sales = $1,095m Average collection period = 50 days Inventory turnover = 1.25 times Total asset turnover = 0.60
Current ratio = 2.6 times Credit sales = $1,095m Average collection period = 50 days Inventory turnover = 1.25 times Total asset turnover = 0.60 times Debt ratio = 60% Use the above information to complete the balance sheet below. (Enter your answer in millions. Use 365 days a year.
Cash Accounts receivable Inventory Current assets Fixed assets Total assets million million Current liabilities million Long-term debt $440 million million 440 milion million 440 million 0 million Total debt million Stockholders' equity 0 million Total liabilities and equityStep by Step Solution
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