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Accounts and balances from the accounting records of Alleg, Inc

The following (given in scrambled order) are accounts and balances from the accounting records of Alleg, Inc., as of December 31, 2012, after the books were closed for the year.

Common stock, authorized 21,000 share
At $1 par value, issued 12,000 shares $12,000
Additional paid-in capital 38,000
Cash 14,000
Marketable securities 17,000
Accounts receivable 26,000
Accounts Payable 16,000
Current maturities of long-term debt 11,000
Mortgages payable 80,000
Bonds payable 65,000
Inventory 33,000
Land and buildings 57,000
Machinery and equipment 120,000
Goodwill 13,000
Patents 9,000
Other assets 45,000
Deferred income taxes (long-term liability) 18,000
Retained earnings 33,000
Accumulated depreciation 61,000

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Bonds and mortgages generally have 10-30 years until maturity. Marketable securities are short-term investments that can be converted to cash in a matter of minutes.

Required:

Prepare a classified balance sheet with a proper heading on a spreadsheet. For assets, use the classifications of current assets, plant and equipment, intangibles, and other assets. For liabilities, use the classifications of current liabilities and long-term liabilities.
Compute the total asset turnover rate assuming that total revenues in 2012 were $682,500. Round to the nearest hundredth, e.g. 3.33.
Assume that Alleg’s primary competitor has an asset turnover of 2.12. What does this tell you about Alleg’s asset management?

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