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BALANCE SHEET COMPLETION USING RATIOS     
 
PROBLEM:
             
Following is the 2006 balance sheet for Sumi Industries. Complete the balance sheet by using the information that follows it.
 
 
Sumi Industries 
Balance Sheet 
As on December 31, 2006 
 
   Cash    Rs. 30,000  Accounts payable  Rs. 120,000 
   Marketable securities        25,000  Notes payable              ???
  
   Accounts receivable        ???   Accruals           20,000 
   Inventory         ???    Total current liabilities         ???
 
    Total current assets       ???   Long-term debt            ???
  
   Net fixed assets        ???   Stockholder’s equity        720,000 
 Total Assets        ???    Total liabilities &
  
Stockholder’s Equity           ???
 
 
 
The following financial data for 2006 are also available:
 
(1) Sales totaled Rs. 2,700,000.
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