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Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1x Days sales outstanding: 36.5 days Inventory turnover ratio: 4x
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1x Days sales outstanding: 36.5 days Inventory turnover ratio: 4x Fixed assets turnover: 3.0x Current ratio: 2.5x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25% Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Balance Sheet Cash Accounts receivable Inventories Fixed assets Total assets Sales $ 67,050 29,700 74,250 99,000 $270,000 297,000 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold $ 40,500 81,000 $
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