From the following information, you are required to prepair a balance sheets Current ratio 1.75

Quick ratio 1.25

Stock turnover ratio (based on closing stock) 9times

Gross profit ratio 25%

Average collection period in months 1.5

Ratio of reserve to capital 0.2

Turn over of fixed assets 1.2

Debt - eqt 0.6

Fixed assets to networth 1.25

Sales for the year 2400000