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Complete the balance sneet and sales information using the following financial data: Total assets turnover: 1x Days sales outstanding: 36.5 days Inventory turnover ratio: 5x
Complete the balance sneet and sales information using the following financial data: Total assets turnover: 1x Days sales outstanding: 36.5 days Inventory turnover ratio: 5x Fixed assets turnover: 2.5x Current ratio: 2.0x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 30% Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Balance Sheet Cash Current liabilities 97,200 Accounts receivable Long-term debt 40,500 27,000 Inventories Common stock 37,800 $ Fixed assets Retained earnings 81,000 108,000 Total assets $270,000 Total liabilities and equity Sales Cost of goods sold 270,000
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