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All answers were incorrect, please include formulas with answers Total assets turnover Gross profit margin on sales Total liabilities-to-assets ratio Quick ratio Days sales outstanding
All answers were incorrect, please include formulas with answers
Total assets turnover Gross profit margin on sales Total liabilities-to-assets ratio Quick ratio Days sales outstanding Inventory turnover ratio Total assets Long-term debt Retained earnings Number of days in year Financial Statements Partial Income: Sales Cost of good sold Balance Sheet: Cash Accounts receivable Inventories Fixed assets Total assets Accounts payable Long-term debt Common stock Retained earnings Total liabilities and equity 2.30 27.00% 40.00% 1.05 35.50 4.00 $400,000 50,000 100,000 365 $920,000 =B3*B9 671,600 =B16*(1-B4) $26,021 =B6*B26-B21 89,479 =(B16/B12)*B7 167,900 =B17/B8 116,600 =B9-(B20+B21+B22) $400,000 $110,000 =B5*B24-B27 50,000 140,000 =B9-(B26+B27+B29) 100,000 $400,000 =SUM(B26:B29) Formulas Quick ratio: 1.05 Days sales outstanding (based on 365-day year): 35.5 days Inventory turnover ratio: 4.0 The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. Open spreadsheet Complete the balance sheet and sales information in the table that follows for J. White Industries. Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales $920,000 Cost of goods sold 671,600 Balance Sheet Cash $26,021 Accounts payable $110,000 Accounts receivable 89,479 Long-term debt Inventories 167,900 Common stock 140,000 Fixed assets 116,600 Total assets $400,000 Check My Work $ $ $ $ $ $ $ 400,000 Reset Problem Retained earnings Total liabilities and equity $ 50,000 $ $ 100,000 $Step by Step Solution
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