Click here to read the eBook: Profitability Ratios Problem Walk-Through BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.3x Days sales outstanding: 42.5 days a Inventory turnover ratio: 7x Fixed assets turnover: 2.5x Current ratio: 1.9x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =15% a Calculation is based on a 365 -day year. Do not round intermediate calculations. Round your answer to the nearest cent. Balance Sheet \begin{tabular}{|c|c|c|c|} \hline Cash & $ & Current liabilities & $ \\ \hline Accounts receivable & & Long-term debt & 93,750 \\ \hline Inventories & & Common stock & \\ \hline Fixed assets & & Retained earnings & 112,500 \\ \hline Total assets & $375,000 & Total liabilities and equity & $ \\ \hline Sales & $ & Cost of goods sold & $ \\ \hline \end{tabular}