Classified balance sheet - 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 

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: 

1.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.

2.Compute the total asset turnover rate assuming that total revenues in 2012 were $682,500. Round to the nearest hundredth, e.g. 3.33. 

3.Assume that Alleg’s primary competitor has an asset turnover of 2.12. What does this tell you about Alleg’s asset management?