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Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.3x Days sales outstanding: 30.5 daysa Inventory turnover ratio: 5x
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.3x Days sales outstanding: 30.5 daysa Inventory turnover ratio: 5x Fixed assets turnover: 3x Current ratio: 2.3x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 35% 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 40,000 Inventories Long-term debt Common stock Retained earnings Total liabilities and equity Fixed assets 50,000 Total assets $200,000 Sales $ Cost of goods sold $
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