Table 3.1 Balance Sheet Cole Eagan Enterprises December 31, 2010 Cash $4,500 $10,000 Accounts Payable Notes Payable Accounts Receivable I Accruals 1,000 Inventories Total Current Assets Total Current Liabilities Net Fixed Assets Long-Term Debt Total Assets Stockholders' Equity Total Liabilities & Stockholder Equity Information (2010 values) 1. Sales totaled $110,000 2. The gross profit margin was 25 percent. Inventory turnover was 3.0. 3. 4. There are 360 days in the year. 5. The average collection period was 65 days. 6. 7. The current ratip was 2.40. The total asset turnover was 1.13. . The debt ratio was 53.8 percent 8. Total assets for CEE in 2010 were (See Table 3.1) $ 45,895 $124,300 O $58,603 $ 97,345