Complete the balance sheet and sales information in the table that follows for Hoff- meister Industries using the following financial data: Debt ratio: 50% Quick ratio: 0.80 Total assets turnover: 1.5 Days sales outstanding: 36.5 days" Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25% Inventory turnover ratio: 5.0 *Calculation is based on a 365-day year. 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