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From the values of the different ratios that follow, calculate the missing balance sheet items and complete the balance sheet. Please show your work....

I do not understand how to do this ratio problem. Please Help
From the values of the different ratios that follow, calculate the missing balance sheet items and complete the balance sheet. Please show your work. Sales $100,000 Average Collection Period 55 days Inventory Turnover 15 Debt to Asset Ratio 40% (or .4) Current Ratio 3.0 Total Asset Turnover 1.6 Fixed Asset Turnover 2.9 Assets Liabilities + Equity Cash $6,000 Accounts Payable $6,000 Accounts Receivable ______ Notes Payable _____ Inventory ______ Accrued Expenses 600 Prepaid Expenses ______ Total Current Liabilities ______ Total Current Assets ______ Bonds Payable ______ Fixed Assets ______ Common Stock 16,000 Retained Earnings ______ Total Assets $______ Total Liabilities + Equity $______
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Please see the attached... View the full answer

8438519.xlsx

Solution :Assets Amount ($) Cash
Accounts Receivable
Inventory
Prepaid Expenses
Total Current Assets
Fixed Assets
Retained Earnings
Total Assets
Workings :Average Collection Period = 6,000
15,278...

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