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Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.2x Days sales outstanding: 32 daysa Inventory turnover ratio: 4x
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.2x Days sales outstanding: 32 daysa Inventory turnover ratio: 4x Fixed assets turnover: 3.5x Current ratio: 1.6x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 15% aCalculation is based on a 365-day year. Round your answer to the nearest cent.
Balance Sheet | ||||
Cash | $ | Current liabilities | $ | |
Accounts receivable | $ | Long-term debt | 30,000 | |
Inventories | $ | Common stock | $ | |
Fixed assets | $ | Retained earnings | 50,000 | |
Total assets | $200,000 | Total liabilities and equity | $ | |
Sales | $ | Cost of goods sold | $ |
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