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Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1 Days sales outstanding: 36.5 days a Inventory turnover ratio:
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1 Days sales outstanding: 36.5 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 = 15% aCalculation is based on a 365-day year.
Do not round intermediate calculations. Round your answers to the nearest dollar.
Balance Sheet | ||||
Cash | A) $ ______? | Current liabilities | B) $______? | |
Accounts receivable | C) ________? | Long-term debt | 90,000 | |
Inventories | D) ________? | Common stock | E) _______? | |
Fixed assets | F) ________? | Retained earnings | 126,000 | |
Total assets | $360,000 | Total liabilities and equity | G) $______? | |
Sales | H) $_______? | Cost of goods sold | I) $_______? |
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