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USE THE FOLLOWING INFORMATION TO FILL IN THE BALANCE SHEET BELOW (note that the accounts listed below are the ONLY accounts on this company's balance

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USE THE FOLLOWING INFORMATION TO FILL IN THE BALANCE SHEET BELOW (note that the accounts listed below are the ONLY accounts on this company's balance sheet) AND THEN ANSWER QUESTIONS 1 THROUGH 9 . Gross profit margin - 70% Inventory turnover ratio - 5 times Sales - $4,000 Net profit margin - 5% Average collection period - 45 days Return on equity - 50% Return on assets - 20% Cash - $75 Current ratio - 2.50 times Accounts payable days - 30 days Note: Of total sales, 80 percent are on credit and the remainderare cash sales. Assume a 360-day year Cash Accounts receivable Inventory Net fixed assets Total assets Notes payable Accounts payable Long-term debt Equity Total liab. & equity

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