Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows for J. White Industries, using the following financial data: Total assets turnover: 1.5 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25% Total liabilities-to-assets ratio: 40% Quick ratio: 0.80 Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.75 - Partial Income Statement Information Sales Cost of goods sold Balance Sheet Information Cash Accounts payable Accounts receivable Long-term debt Inventories Common stock Fixed assets Retained earnings Total assets $400,000 Total liabilities and equity 50,000 100,000 7-13 Comprehensive Ratio Analysis Data for Lozano Chip Company and its industry averages follow. a. Calculate the indicated ratios for Lozano. b. Construct the extended DuPont equation for both Lozano and the industry. c. Outline Lozano's strengths and weaknesses as revealed by your analysis