(3-16) Balance Sheet Analysis a 365-day In the table that follows, complete the balance sheet and sales information for J. White Industries using the following financial data: Quick ratio: 0.80X Total assets turnover: 1.5X Days' sales outstanding: 36.5 days Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25% Inventory turnover ratio: 3.75X Average payables period: 89.22 days "Calculation is based on a 365-day year. Partial Income Statement Sales Cost of goods sold Cash Accounts receivable Inventories Fixed assets Total assets Balance Sheet $400,000 Accounts payable Long-term debt Common stock Retained earnings Total liabilities and equity 50,000 100,000

In the table that follows, complete the balance sheet and sales information for J. White Industries using the following financial data: Quick ratio: 0.80 Total assets turnover: 1.5 Days' sales outstanding; 36.5 days? Gross profit margin on 5ales: (Sales - Cost of goods sold) / Sales =25% Inventory turnover ratio: 3.75 Average payables period: 89.22 days "Calculation is based on a 365 . day yean