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 60,000 Cash Accounts receivable Inventories Fixed assets Total assets Sales Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold 97,500 $300,000