13. Balance Sheet Analysis

Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data:

Total assets turnover: 1.8 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20% Total liabilities-to-assets ratio: 40% Quick ratio: 0.75 Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.50

Do not round intermediate calculations. Round your answers to the nearest whole dollar.

Partial Income Statement Information Sales$ Cost of goods sold$

Balance Sheet

Cash$ Accounts payable$ Accounts receivable$ Long-term debt$ 50,000Inventories$ Common stock$ Fixed assets$ Retained earnings$ 100,000Total assets$ 400,000Total liabilities and equity$