USE THE FOLLOWING INFORMATION TO CONSTRUCT A BALANCE SHEET TO ANSWER QUESTIONS 28 through 30.

USE THE FOLLOWING INFORMATION TO CONSTRUCT A BALANCE SHEET TO ANSWER QUESTIONS 28 through 30 $ 2,000,000 20% 45 25% Sales Gross profit margin Inventory turnover ratio (Cost of goods sold/Inventory) Net profit margin Average collection period Return on equity Accumulated depreciation Return on assets Accounts payable days Notes payable Gross fixed assets Percent of sales on credit (remainder are cash sales) $ 75,000 12.5% $ 18,000 $ 400,000 80% NOTE: Assume a 360 day year for all ratios, etc. 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 28, 29 and 30. Cash Notes payable Accounts receivable Accounts payable Inventory Long-term debt Gross fixed assets Equity (Accumulated depreciation) Total liab & cquity Net fixed assets Total assets 28. Cash 29. Long-term debt 30. Total assets