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BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1x Days sales outstanding: 42.5 daysa Inventory
BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1x Days sales outstanding: 42.5 daysa Inventory turnover ratio: 7x Fixed assets turnover: 3x Current ratio: 1.9x 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 93,750 Inventories Common stock Fixed assets 131,250 Retained earnings Total liabilities and equity Total assets $375,000 Sales Cost of goods sold
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