The Griggs Corporation has credit sales of $1,200,000. Given the following ratios, fill in the balance sheet below.

Total assets turnover 2.4 times

Cash to total assets 2.0%

Accounts receivable turnover 8.0 times

Inventory turnover 10.0 times

Current ratio 2.0 times

Debt to total assets 61.0%

Balance Sheet 2008

Assets Liabilities and Stockholders' Equity

Cash __________________ Current debt ____________________

Accounts receivable _____________________ Long-term debt ____________________

Inventory ________________________ Total debt __________________________

Total current assets _________________ Equity _________________________

Fixed assets _______________________

Total assets _______________________ Total debt and stockholders' equity _______________

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