Question 10 2 pts Builtrite Bakery is a new firm specializing in all-natural ingredient pastry products In attempting to determine what the financial position of the firm should be the financial manager obtained the following average ratios for the baking industry for 2020: Common equity /total assets Total assets turnover Long-term debt / total assets Current ratio Quick ratio Average collection period (360-day year) 60% 3 times 20% 1.2 175 10 days Complete the accompanying projected balance sheet for Builtrite Bakery assuming 2021 sales (all credit) are $5,400,000 Builtrite Bakery projected Balance Sheet ending December 31, 2021 Cash Accts. Receivable Current Liabilities Long Term Debt Total Debt Inventory Tot. Current assets Common Equity Tot. Liabilities & equity. Fixed assets Total Assets Based upon the above information, Total Debt equals: $720,000 5880,000 MacBook Pro Tot. Current assets Common Equity Fixed assets Tot. Liabilities & equity. Total Assets Based upon the above information, Total Debt equals: $720,000 $880,000 $1,060,000 O $1.200.000 Previous