BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.2x
Days sales outstanding: 42 days
Inventory turnover ratio: 3x
Fixed assets turnover: 3.5x
Current ratio: 1.8x
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25%
a. Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answer to the nearest cent. Balance Sheet
Cash $ = Current liabilities=
$ Accounts receivable= Long-term debt 70,000
Inventories = Common stock =
Fixed assets 120,000 Retained earnings 87,500
Total assets $350,000 Total liabilities and equity $ 350,000
Sales $ 420,000 Cost of goods sold $=