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Please show step and formulas. USE THE FOLLOWING INFORMATION TO FILL IN THE BALANCE SHEET BELOW TO ANSWER QUESTIONS 31 through 34 15,000 Average collection

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Please show step and formulas.

USE THE FOLLOWING INFORMATION TO FILL IN THE BALANCE SHEET BELOW TO ANSWER QUESTIONS 31 through 34 15,000 Average collection period (days) Number of shares outstanding 60 $200,000 Sales Accounts payable days 90 $23,700 Retained earnings (2010) Gross profit margin 20% 4 Inventory turnover ratio Dividend payout ratio 80% 4,000 8,000 Accruals Notes payable 15% Net profit margin Current ratio 1.5 8% Debt ratio 40% Return on assets 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 2015

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