Posted: May 2nd, 2016

long term debt which prohibits finding the remainder of the problems??

The Griggs Corporation has credit sales of 1,200,000. Given the following ratios, fill in the balance sheet below.

Total assets turnover – 2.4 times
Cash to total assets – 2.0%
Accounts receivable turnover – 8.0 times
Inventory turnover – 10.0 times
Current ratio – 2.0 times
Debt to total assets – 61.0%

Griggs Corporation
Balance Sheet 2008

Assets:
Cash
Accounts Receivable
Inventory
Total current assets
Fixed assets
Total assets

Liabilities and Stockholders Equity:
Current debt
Long-term debt
Total debt
Equity
Total debt and stockholders equity

I understand how to find total assets, total debt, net worth & cash. I’m confused on how to find current debt vs long term debt which prohibits finding the remainder of the problems

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