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). YOU WILL USE THE BALANCE SHEET YOU CREATE FOR THIS QUESTION TO THIS QUESTION AND THE FOLLOWING 8 QUESTIONS ON THIS QUIZ.

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 remainder are cash sales. Assume a 360-day year.

Cash	__________		Notes payable	__________
Accounts receivable	__________		Accounts payable	__________
Inventory	__________		Long-term debt	__________
Net fixed assets	__________		Equity	__________
Total assets	__________		Total liab. & equity	__________

QUESTION:

Cash = _____

Account receivable =

Inventory =

Net fixed asset =

total asset =

Note payable =

Account payable =

Long term debt =

Equity =

Total liab & equity =