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: 1.3

Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 30%

Total liabilities-to-assets ratio: 50%

Quick ratio: 0.70

Days' sales outstanding (based on 365-day year): 36.5 days

Inventory turnover ratio: 3.75

Do not round intermediate calculations. Round your answers to the nearest whole dollar.

Partial Income Statement InformationSales$Cost of goods soldBalance SheetAssetsLiabilities and EquityCash$Accounts payable$Accounts receivableLong-term debt50,000InventoriesCommon stockFixed assetsRetained earnings100,000Total assets$400,000Total liabilities and equity$