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Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.5x Days sales outstanding: 33 days (calculation based on a
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.5x Days sales outstanding: 33 days (calculation based on a 365-day year) Inventory turnover ratio: 5.0x Fixed assets turnover: 4.0x Current ratio: 2.0x Gross profit margin on sales: (Sales Cost of goods sold)/Sales = 30% _60,000 Cash Accounts Receivables Inventories Fixed assets Total assets Sales Balance Sheet Current Liabilities Long-term debt Common Stock Retained Earnings $300,000 Total Liabilities & Equity Cost of goods sold _97,500
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