Consider the following financial data for J$.$ White Industries:

Total assets turnover: $2\mathrm{.}2$

Gross profit margin on sales: $($Sales $-$ Cost of goods sold$)/$Sales $=29\%$

Total liabilities$-$to$-$assets ratio: $35\%$

Quick ratio: $1\mathrm{.}15$

Days sales outstanding $($based on $365-$day year$)$: $38$ days

Inventory turnover ratio: $3\mathrm{.}0$

The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below.

Open spreadsheet

Partial Income

Statement

Information

Sales $ $\_\_\_\_\_\_\_\_$

Cost of goods sold $ $\_\_\_\_\_\_\_\_$

Balance Sheet

Cash $ $\_\_\_\_\_\_$

Accounts payable $ $\_\_\_\_\_\_\_$

Accounts receivable $ $\_\_\_\_\_\_\_$

Long$-$term debt $ $50,000$

Inventories $ $\_\_\_\_\_\_\_\_\_\_$

Common stock $ $\_\_\_\_\_\_\_\_$

Fixed assets $ $\_\_\_\_\_\_\_\_$

Retained earnings $ $100,000$

Total assets $ $400,000$ Total liabilities and equity $ $\_\_\_\_\_$