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    The Griggs Corporation: Creating a Balance Sheet from Ratios

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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

    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. Thank you for your help :)

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    https://brainmass.com/business/financial-ratios/griggs-corporation-creating-balance-sheet-ratios-532571

    Solution Preview

    Find attached a formatted MS Excel spreadsheet containing assistance for the Griggs Corporation exercise.

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

    Total assets turnover 2.40 times
    Cash to total assets 2.0 %
    Accounts receivable turnover 8.00 times
    Inventory turnover 10.00 times
    Current ratio 2.00 times
    Debt to total assets 61.0 %

    Griggs Corporation
    Balance Sheet 2008

    Assets: Liabilities and Stockholders ...

    Solution Summary

    The attached MS Excel spreadsheet contains detailed instructions for the completion of a standardized balance sheet for the Griggs Corporation from relevant financial ratios.

    $2.19