You are provided with the following info about the Heartland HotelCorporation Cu

Question

You are provided with the following info about the Heartland HotelCorporation
Current Ratio 1.2
Current Liabilities $100,000
Debt/Equity Ratio 2.0
Acid Test Ratio .8
Inventory turnover rate 4 times
Cost of Goods Sold $160,000
Accounts Receivable$40,000
Net income$90,000
Return on Assets 10%

calculate the balance sheet for the end of the year
A. Assume that average inventory is the same as the end of yearinventory
B. "Quick" assets only include cash and accounts receivable


Someone please help, i have spent a day on this last problem andcannot figure it out??!?!

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