The Shannon Corp has credit sales of $20 million. Given the following ratios, fill in the balance sheet. Please show all of your work.Total asset turnover – 2xTotal debt to assets – 30%Current Ratio – 3xinventory turnover – 5xaver collection period – 18 daysfixed asset turnover – 5x——-determine:cash____A/R_____Inventory______total current assets _____fixed assets _____current debt _____Long-term debt _____total debt______equity_____total debt and equity_____”
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