13. Problem 4.22 Click here to read the eBook: Ratio Analysis Click here to read the eBook: Liquidity Ratios Click here to read the eBook: Asset Management Ratios Click here to read the eBook: Profitability Ratios Problem Walk-Through BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.2x Days sales outstanding: 30.5 daysa Inventory turnover ratio: 4x Fixed assets turnover: 3.5x Current ratio: 2.1x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25% 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 40,000 Inventories Common stock Fixed assets 60,000 Retained earnings Total liabilities and equity Total assets $200,000 Sales Cost of goods sold Grade It Now Save & Continue Continue without saving