(Pro forma balance sheet construction) Use the followingindustry-average ratios to construct a pro forma balance sheet forKaren's BeautyProducts, Inc.:

Total asset turnover

1.5 times

Average collection period(assume 365-dayyear)

16 days

Fixed asset turnover

6 times

Inventory turnover(based on cost of goodssold)

2 times

Current ratio

1.9 times

Sales(all oncredit)

$5,000,000

Cost of goods sold

70% of sales

Debt ratio

40%

.

Fill in the assets section of the pro forma balance sheet.(Round all items to the nearestdollar.)

Cash

$

Accounts receivable

Inventories

Net fixed assets

Total assets

$

Fill in the liabilities and common equity section of the pro forma balance sheet.(Round all items to the nearestdollar.)

Current liabilities

$

Long-term debt

Total liabilities

$

Common equity

Total liabilities and common equity

$