USE THE FOLLOWING INFORMATION TO FILL IN THE BALANCE SHEET BELOW TO ANSWER QUESTIONS 31 through 34

Number of shares outstanding 15,000

Average collection period (days) 60

Sales 1,800,000 $

Accounts payable days 30

Gross profit margin 10%

Retained earnings (2015) 237,000 $

Inventory turnover ratio 10

Dividend payout ratio 60%

Notes payable 75,000 $

Accruals 40,000 $

Net profit margin 15%

Current ratio 1.5

Return on assets 20%

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 2016.

Hodun, Inc. Balance Sheet for the Year Ending December 31, 2016

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 = __________.