Posted: July 12th, 2016

What is the importance of a company?

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