Posted: August 31st, 2016

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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
Accounts Receivable
Total current assets
Fixed assets
Total assets
Liabilities and Stockholders Equity:
Current debt
Long-term debt
Total debt
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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