21

Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4x Days sales outstanding: 33.5 daysa Inventory turnover ratio: 5x Fixed assets turnover: 3.5x Current ratio: 1.6x Gross profit margin on sales: (Sales-Cost of goods sold)/Sales-35% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answer to the nearest cent. Balance Sheet Cash Accounts receivable Inventories Fixed assets Current liabilities Long-term debt Common stock Retained earnings Total abilities and equity Cost of goods sold 56,250 131,250 Total assets $375,000 Sales