1. Fill in the blanks in the following Income Statement and Balance Sheet for Screven Industries. Assume that there are 360 days in a year and that Credit Sales are 75% of total sales.

Net Income is $1,200,000

Cash $750,000 Current Debt ________

Acct. Rec. _________ L-T Debt ________

Inventory _________ Total Debt ________

T. Current Assets _________ Stockholders Equity ________

Net Fixed Assets _________ Total Debt and

Total Assets _________ Stockholders Equity ________

Total Asset Turnover 2.5 ACP 30 days

NPM 10% Inventory T/O 6

GPM 25% Current Ratio 5

ROE .40 ROA .25