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Complete the balance sheet and sales information that follows using the following financial data: Debt ratio: 60% Current ratio: 1.4x Total assets turnover: 2.3x Days
Complete the balance sheet and sales information that follows using the following financial data: Debt ratio: 60% Current ratio: 1.4x Total assets turnover: 2.3x Days sales outstanding: 33.5 daysa Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 30% Inventory turnover ratio: 6x aCalculation is based on a 365-day year. Round your answer to two decimal places. Balance Sheet a. Cash b. Accounts payable c. Accounts receivable Long-term debt 86,250 d. Inventories e. Common stock f. Fixed assets Retained earnings 155,250 Total assets $575,000 g. Total liabilities and equity h. Sales i. Cost of goods sold
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