1%29.docx BIU A - A- 22. Complete the balance sheet and sales information using the following financial data: Balance sheet Cash Current liability $150,000 Accounts receivable $90,000 Long-term debt 120,000 Inventories $90,000 Common stock Fixed assets $300,000 $ 600,000 Total assets Retained earnings 195,000 Total liabilities and equity Cost of good sold $270,000 Sales $900,000 Current ratio:2.00 X Fixed assets turnover 3.00 X Inventory turnover 5.00 X Days sales outstanding 36.5 days Total assets turnover 1.5 X Gross profit margin on sales: -30%