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Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.2x Days sales outstanding: 37 daysa Inventory turnover ratio: 5x
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.2x Days sales outstanding: 37 daysa Inventory turnover ratio: 5x Fixed assets turnover: 3.5x Current ratio: 2.5x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 30% 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 81,250 Inventories Long-term debt Common stock Retained earnings Total liabilities and equity Fixed assets 113,750 $ Total assets $325,000 Sales Cost of goods sold
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