Complete the balance sheet and sales information in the table that follows for Hoffmeister Industries using the following financial data:

Debt ratio: 60% Quick ratio: 1.25 Total assets turnover: 2.8 Days sales outstanding: 36 days* Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 23% Inventory turnover ratio: 7.0 * Calculation is based on a 365-day year.

Round your answers to the nearest whole dollar.

Balance Sheet

Cash	$	Accounts payable	$
Accounts receivable	$	Long-term debt	$ 60,000
Inventories	$	Common stock	$
Fixed assets	$	Retained earnings	$ 97,500
Total assets	$ 300,000	Total liabilities and equity	$
Sales	$	Cost of goods sold	$