Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.2 Days
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Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.2 Days sales outstanding: 73.0 daysa Inventory turnover ratio: 4 Fixed assets turnover: 3.0 Current ratio: 2.0 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 30% aCalculation is based on a 365-day year.
Do not round intermediate calculations. Round your answers to the nearest dollar.
| Balance Sheet | ||||
| Cash | $ | Current liabilities | $ | |
| Accounts receivable | Long-term debt | 31,500 | ||
| Inventories | Common stock | |||
| Fixed assets | Retained earnings | 73,500 | ||
| Total assets | $210,000 | Total liabilities and equity | $ | |
| Sales | $ | Cost of goods sold | $ | |
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