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Solve with: 3-3 Everything is the same except that Total debt to net worth 1 to 1, Quick ratio 1.5 to 1, Asset turnover 1.5

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Solve with:

3-3 Everything is the same except that

Total debt to net worth 1 to 1, Quick ratio 1.5 to 1, Asset turnover 1.5 times, Average collection period 48.67 days, Sales/Inventory 7.5 times, Long-term debt 30,000, Common stock 20,000, Retained earnings 30,000.

3-3 Given the following financial data, complete the balance sheet below: Total debt to net worth 1.5 to 1 Quick ratio 1 to 1 Asset turnover 2 times Average collection period Sales/inventory 10 times Cash Notes payable Receivables Long-term debt $20,000 Inventories Common stock 15,000 Net plant Retained earnings 25,000 18.25 days Total assets Total debt & equity

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