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Cash P 30,000 P 120,000 25,000 Marketable Securities Accounts Receivable 20,000 Inventories Total Current Assets Net Fixed Assets TOTAL ASSETS Accounts Payable Notes Payable Accrued Wages Total Current Liabilities Long-Term Debt Total Liabilities Stockholder's Equity TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY 600,000 The following financial data for 2016 are also available: 1. Sales totaled P1,800,000.00 2. The gross profit margin was 25% 3. Inventory turnover was 6.0 (use COGS/Ave. Inventory formula) 4. There are 360 days in a year. 5. The average collection period was 40 days 6. The current ratio was 1.60 7. The total asset turnover ratio was 1.20. 8. The debt ratio was 60 percent