USE THE FOLLOWING INFORMATION TO FILL IN THE BALANCE SHEET BELOW TO ANSWER QUESTIONS 31 through 34 Average collection period (days) Number of shares outstanding 15,000 Accounts payable days Sales $850,000 Retained earnings (2018) $537,400 Gross profit margin 20% Dividend payout ratio 80% Inventory turnover ratio Accruals $9,000 Net profit margin 15% Current assets 1.25 Return on assets Debt ratio 1 2 40% Notes payable $13,000 Note: Of total sales, 60 percent are on credit and the remainder are cash sales. Assume a 360-day year. All data in the table above, unless otherwise stated, is for the year 2019. Hodun, Inc. Balance Sheet for the Year Ending December 31, 2019 Cash Notes payable Accounts payable Accounts receivable Inventory Accruals Net fixed assets Total assets Long-term debt Common stock (52 par value) Capital surplus Retained earnings Total liab. & equity 31. Cash 32. Long-term debt = 33. Total assets _ 34. Capital surplus =