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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: 43 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: 43 daysa Inventory turnover ratio: 6x Fixed assets turnover: 3.5x Current ratio: 1.8x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 30% Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answer to the nearest cent. Balance Sheet Current liabilities Cash $ 41,250 Accounts receivable Inventories Fixed assets Total assets Long-term debt Common stock Retained earnings Total liabilities and equity 82,500 $275,000 Sales $ Cost of goods sold $
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