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4.9 Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.2x Days sales outstanding: 36.5 daysa Inventory turnover ratio:
4.9
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.2x Days sales outstanding: 36.5 daysa Inventory turnover ratio: 4x 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. Do not round intermediate calculations. Round your answers to the nearest dollar. Balance Sheet Cash Current liabilities Accounts receivable Long-term debt 60,000 Inventories Common stock Fixed assets Retained earnings 105,000 Total assets $300,000 Total liabilities and equity Sales Cost of goods soldStep by Step Solution
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