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Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.8x Days sales outstanding: 31 daysa Inventory turnover ratio: 7x

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Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.8x Days sales outstanding: 31 daysa Inventory turnover ratio: 7x Fixed assets turnover: 3.5x Current ratio: 1.6x = Gross profit margin on sales: (Sales - Cost of goods sold)/Sales 30% a Calculation 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 45,000 Inventories Long-term debt Common stock Retained earnings Total liabilities and equity Fixed assets 78,750 Total assets $225,000 Sales Cost of goods sold

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