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Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4x Days sales outstanding: 37.5 daysa Inventory turnover ratio: 5x
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4x Days sales outstanding: 37.5 daysa Inventory turnover ratio: 5x Fixed assets turnover: 3x Current ratio: 2x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20% Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest cent. Balance Sheet Current liabilities Cash $ 75,000 Accounts receivable Inventories Fixed assets Total assets Long-term debt Common stock Retained earnings Total liabilities and equity 105,000 $300,000 $ Sales $ Cost of goods sold $
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