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BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4x Days sales outstanding: 33 daysa Inventory
BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4x Days sales outstanding: 33 daysa Inventory turnover ratio: 5x Fixed assets turnover: 3.5x Current ratio: 2.2x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 15% Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answer to the nearest cent. Balance Sheet Cash $ Current liabilities 52,500 Accounts receivable Inventories Fixed assets Total assets Long-term debt Common stock Retained earnings Total liabilities and equity 122,500 $350,000 Sales $ Cost of goods sold $
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