USE THE FOLLOWING INFORMATION TO FILL IN THE BALANCE SHEET BELOW TO ANSWER QUESTIONS

Number of shares outstanding	15,000		Average collection period (days)	60
Sales	$ 200,000		Accounts payable days	90
Gross profit margin	20%		Retained earnings (2010)	$ 23,700
Inventory turnover ratio	4		Dividend payout ratio	80%
Notes payable	$ 8,000		Accruals	$ 4,000
Net profit margin	15%		Current ratio	1.5
Return on assets	8%		Debt ratio	40%

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 2015.

Hodun, Inc. Balance Sheet for the Year Ending December 31, 2015

Cash:_______ Notes Payable:_______

Accounts Receivable:_______ Accounts Payable:_______

Inventory:_______ Accruals:_______

Net fixed assets:_______ Long-term debt:_______

Total assets: ______ Common Stock ($2 par value):_______

Capital Surplus:_______

Retained earnings:_______

Total liab. & equity:_______

31. Cash = ____________. 32. Long-term debt = ____________.

33. Total assets =____________. 34. Capital surplus = __________.

Thanks so much for the help!