BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following financial data:

Total assets turnover: 1.5×

Days sales outstanding: 36.5 daysa Inventory turnover ratio: 5×

Fixed assets turnover: 3.0×

Current ratio: 2.0×

Gross profit margin on sales: (Sales − Cost of goods sold)/Sales = 25%

aCalculation is based on a 365-day year.

Balance Sheet Cash Current liabilities Accounts receivable Long-term debt 60,000 Inventories Common stock Fixed assets Retained earnings 97,500 Total assets $300,000 Total liabilities and equity Sales Cost of goods sold.AppendixLO1