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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: 30.5 days^a Inventory
BALANCE SHEET ANALYSIS
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1x Days sales outstanding: 30.5 days^a Inventory turnover ratio: 4x Fixed assets turnover: 2.5x Current ratio: 2.4x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25% 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 | 41,250 | ||
| Inventories | Common stock | |||
| Fixed assets | Retained earnings | 96,250 | ||
| Total assets | $275,000 | Total liabilities and equity | $ | |
| Sales | $ | Cost of goods sold | $ | |
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