4/22 BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.5x Days sales outstanding: 36.5 days" Inventory turnover ratio: 5x Fixed assets turnover: 3.0x Current ratio: 2.0x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25% "Calculation is based on a 365-day year. Balance Sheet Cash Accounts receivable Current liabilities Long-term debt 60,000 Inventories Common stock Fixed assets Retained earnings 97,500 Total assets $300,000 Total liabilities and equity Sales Cost of goods sold