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E9-1 (Algo) Preparing a Classified Balance Sheet [LO 9-1, LO 9-7] The following is a list of account titles and amounts (in millions) reported at

image text in transcribed E9-1 (Algo) Preparing a Classified Balance Sheet [LO 9-1, LO 9-7] The following is a list of account titles and amounts (in millions) reported at December 30, 2018, by Patel \& King Manufacturing a leading manufacturer of games, toys, and interactive entertainment software for children and families: Required: 1. Prepare the asset section of a classified balance sheet for Patel \& King Manufacturing. 2-a. Using Patel \& King's 2018 Net Sales Revenue of $4,520 (million) and its average Net Fixed Assets of $264 (million), calculate the fixed asset turnover ratio for 2018. 2-b. Has the company generated more or less revenue from each dollar of fixed assets than in 2017 , when the ratio was 18.32 ? Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the asset section of a classified balance sheet for Patel \& King Manufacturing. (Enter assets in the order of their liquidity. Enter your answers in millions. Amounts to be deducted should be indicated by a minus sign.)

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