BALANCE SHEET ANALYSIS

Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1x Days sales outstanding: 41 days^a Inventory turnover ratio: 7x Fixed assets turnover: 2.5x Current ratio: 2.4x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20% ^aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answer to the nearest cent.

Balance Sheet
Cash	$		Current liabilities	$
Accounts receivable			Long-term debt	80,000
Inventories			Common stock
Fixed assets			Retained earnings	120,000
Total assets	$400,000		Total liabilities and equity	$
Sales	$		Cost of goods sold	$