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Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4x Days sales outstanding: 42.5 days Inventory turnover ratio: 6x
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4x Days sales outstanding: 42.5 days Inventory turnover ratio: 6x Fixed assets turnover: 3.5x Current ratio: 1.8x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25% Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answer 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 112,500 $ $375,000 Sales S Cost of goods sold
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