Question 24 (17 marks) (a) The Mosely Corporation have approached you for a loan. They have advised that due to a recent fire they have lost most of their accounting data. However, they were able to salvage the following for 2017: Credit sales of $3,600,000 and COGS $3,000,000. Their historical ratios are set out below. Given this information, fill in the balance sheet set out below. (15 Marks) Historical ratios Total assets turnover. Cash to total assets. 2.4 times 2.0% Accounts receivable turnover 8.0 times Inventory turnover 10.0 times Current ratio. 2.0 times Debt to total assets 65.0% Assets Cash Accounts receivable Inventory Mosely CORPORATION Balance Sheet 2017 Liabilities and Stockholders' Equity Current debt Long-term debt. Total debt Total current assets Equity Fixed assets Total assets Total debt and stockholders' equity (b) Using liquidity as the sole criterion, would you lend $750,000.00 to Mosely Corporation? Show all workings and give two reasons to support your answer. (2 marks)