USE THE FOLLOWING INFORMATION TO CONSTRUCT A BALANCE SHEET TO ANSWER QUESTIONS 44 through 47 Financial Data for Spinaway, Inc. (Unless otherwise noted, all data is for December 31, 2020) Assume a 360-day year and assume that the only accounts on the balance sheet are those listed below. Fill in this chart with the data provided and then answer questions 44, 45, 46 and 47. Cash ____________ Notes payable ____________ Accounts receivable ____________ Accounts payable ____________ Inventory ____________ Accruals ____________ Current assets ____________ Current liabilities ____________ Gross fixed assets ____________ Long-term debt ____________ Accumulated depreciation ____________ Total liabilities ____________ Net fixed assets ____________ Equity ____________ Land ____________ Total liab. & equity ____________ Total assets ____________ 44. Cash = ____________. 45. Total liabilities = ____________. 46. Total shareholder equity = ____________. 47. Total assets =____________. Number of shares outstanding 125,000 Average collection period (days) 60 Sales $2,400,000 Accounts payable days 90 Gross profit margin 25% Retained earnings (Dec 31, 2019) $402,000 Inventory turnover ratio 6 Dividend payout ratio 80% Notes payable $80,000 Accruals $20,000 Net profit margin 15% Current ratio 1.2 Return on assets 7.5% Debt ratio 40% Percent of sales on credit 70% Par value per share $5.00