PLEASE ANSWER QUESTIONS CLEARLY LABELED WITH QUESITON NUMBER AND ANSWER!!!!!! THANK YOU!!!!!

USE THE FOLLOWING INFORMATION TO CONSTRUCT A BALANCE SHEET TO ANSWER QUESTIONS 28 through 30

Sales	$ 240,000
Gross profit margin	25%
Inventory turnover ratio (Cost of goods sold/Inventory)	20
Net profit margin	4%
Average collection period	45
Return on equity	20%
Accumulated depreciation	$ 15,000
Return on assets	12.5%
Accounts payable days	18
Notes payable	$ 1,800
Gross fixed assets	$ 48,000
Percent of sales on credit (remainder are cash sales)	75%
NOTE: Assume a 360 day year for all ratios, etc.

Assume that the only accounts on the balance sheet are those listed below. Fill in this chart with the data provided and then answer questions 28, 29 and 30.

Cash

Notes payable

Accounts payable

Long-term debt Equity

Total liab & equity

Accounts receivable

Inventory Gross fixed assets

(Accumulated depreciation)

Net fixed assets

Total assets

28. Cash = ____________.

29. Long-term debt = ____________.

30. Total assets =____________.

USE THE FOLLOWING INFORMATION TO FILL IN THE BALANCE SHEET BELOW TO ANSWER QUESTIONS 31 through 34

Number of shares outstanding	15000		Average collection period (days)	60
Sales	$200,000		Accounts payable days	90
Gross profit margin	20%		Retained earnings (2015)	$23,700
Inventory turnover ratio	4		Dividend payout ratio	80%
Notes payable	$8,000		Accruals	$4,000
Net profit margin	15%		Current ratio	1.5
Return on assets	8%		Debt ratio	40%

Note: Of total sales, 60 percent are on credit and the remainder are cash sales. Assume a 360-day year. All data in the table above, unless otherwise stated, is for the year 2016.

Cash Accounts receivable Inventory Net fixed assets

ToTAl Assets

Notes payable Accounts payable Accruals Long-term debt Common stock ($2 par value) Capital surplus

Retained earnings Total liab. & equity

31. Cash = ____________. 32. Long-term debt = ____________.

33. Total assets =____________. 34. Capital surplus = __________.