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Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1x Days sales outstanding: 30 days a Inventory turnover ratio:
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1x Days sales outstanding: 30 daysa Inventory turnover ratio: 4x Fixed assets turnover: 3x Current ratio: 1.9x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 15% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answer to the nearest cent.
Balance Sheet | ||||
Cash | $ | Current liabilities | $ | |
Accounts receivable | Long-term debt | 75,000 | ||
Inventories | Common stock | |||
Fixed assets | Retained earnings | 90,000 | ||
Total assets | $300,000 | Total liabilities and equity | $ | |
Sales | $ | Cost of goods sold | $ |
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