Using the following information, complete the balance sheet.
Long – term debt to net worth 0.5 to 1
Total asset turnover 2.5 times
Average collection period 18 days (360 days in a year
Inventory turnover 9 times
Gross profit margin 10 %
Acid – test ratio 1 to 1
Cash Notes & payables
Account receivable Long – term debt
Inventory Common Stock
Plant & Equipment Retained Earnings
Total Total