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Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4x Days sales outstanding: 36.5 daysa Inventory turnover ratio: 5x
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4x Days sales outstanding: 36.5 daysa Inventory turnover ratio: 5x Fixed assets turnover: 3.0x Current ratio: 2.0x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Balance Sheet Cash $ Current liabilities $ Accounts receivable Long-term debt 42,000 Inventories Common stock Fixed assets 73,500 Total assets $210,000 Retained earnings Total liabilities and equity Cost of goods sold $ Sales $
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