Consider the following financial data for J. White Industries: Total assets turnover: 2.4 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 23% Total liabilities-to-assets ratio: 55% Quick ratio: 0.85 Days sales outstanding (based on 365-day year): 29 days Inventory turnover ratio: 4.0 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 Complete the balance sheet and sales information in the table that follows for J. White Industries. Do not round intermediate calculations. Round your answers to the nearest whole dollar. 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 $ B D 2.40 23.00% 55.00% 0.85 29.00 4.00 $400,000 50,000 100,000 365 Formulas 1 Balance Sheet Analysis 2 3 Total assets turnover 4 Gross profit margin on sales 5 Total liabilities-to-assets ratio 6 Quick ratio 7 Days sales outstanding 8 Inventory turnover ratio 9 Total assets 10 Long-term debt 11 Retained earnings 12 Number of days in year 13 14 Financial Statements 15 Partial Income: 16 Sales 17 Cost of good sold 18 19 Balance Sheet: 20 Cash 21 Accounts receivable 22 Inventories 23 Fixed assets 24 Total assets 25 26 Accounts payable 27 Long-term debt 28 Common stock 29 Retained earnings 30 Total liabilities and equity 31 #N/A #N/A #N/A #N/A #N/A #N/A $400,000 #N/A 50,000 #N/A 100,000 #N/A