1. With the help of the following data of a company draw up balance sheet.
Inventory turnover 6
Capital turnover (cost of goods sold) 2
Fixed assets turnover (cost of goods sold _ 4
Gross profit ratio 20%
Receivables collection period 2 months
Accounts payable payment period 73 days (365 days a year)
Gross profit $ 60,000
The closing stock was $ 5,000 in excess of the opening stock.
Assets
$
liabilities
$
Fixed assets
Capital
Losing inventory
Accounting receivables
Cash ( balancing figure)
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