For items 11-16: Balance Sheet Cole Eagan Enterprises December 31, 2005 P4,500 Cash Accounts Receivable Inventory Total Current Assets Net Fixed Assets Accounts Payable P10,000 Notes Payable Accruals 1,000 Total Current Liabilities Long Term Debt Stockholders' Equity Total Liabilities & S.E. Total Assets Information (2005 values): 1. Sales totaled P110,000 2. The gross profit margin was 25 percent. 3. Inventory turnover was 3.0. 4. There are 360 days in the year. 5. The average collection period was 65 days. 6. The current ratio was 2.40. 7. The total asset turnover was 1.13. 8. The debt ratio was 53.8 percent. 11. Inventory for CEE in 2005 was a. P36,667 b. P32,448 c. P27,500 d. P 9,167 12. Notes payable for CEE in 2005 was a. P113,466 b. P 52,372 c. P 41,372 d. P 10,608 13. a. P14,056 Accounts receivable for CEE in 2005 was b. P19,861 c. P14,895 d. P18,333 14. Net fixed assets for CEE in 2005 were a. P45,484 b. P48,975 c. P54,511 d. P69,341 15. Total assets for CEE in 2005 were a. P 45,895 b. P124,300 c. P 58,603 d. P 97,345 16. Long term debt for CEE in 2005 was