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

-Debt ratio: 50%

-Quick ratio: 0.80x

-Total assets turnover: 1.5x

-Days sales outstanding: 36.5 days (Calculation is based on a 365-day year)

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

-Inventory turnover ratio: 5x

BALANCE SHEET

Cash_________ Accounts payable _______

Accounts receivable _________ Long-term debt 60,000

Inventories _________ Common stock _______

Fixed assets _________ Retained earnings 97,500

Total assets $300,000Total liabilities and equity______

Sales__________ Cost of goods sold_______