Part B Balance Sheet Fill$-$in

Complete the Balance Sheet below based on the given information

Cash & Securities $$60,000$

Accounts Receivable

Inventory

Total current Assets $$60,000$

Gross Fixed Assets

Accumulated Depreciation $$200,000$

Net Fixed Assets

Total Assets

Accounts Payable $$120,000$

Short$-$term Notes Payable

Accrued Liabilities $$80,000$

Total Current Liabilities

Long$-$Term Debt

Total Liabilities

Stockholder's Equity $$730,000$

Total Liabilites and Equity

Assumptions:

Sales $=$ $$2,190,000$

Gross profit margin $=35\%$

Inventory Turnover $=7\mathrm{.}3$

$365$ days per year

DSO $=45.$ days

Current ratio $=1\mathrm{.}38$

Total Asset Turnover $=1\mathrm{.}20$

Debt Ratio $=$ Total Liabilities$/$Total Assets $=60\%$

Round answer to the nearest dollar