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Consider the following financial data for J. White Industries: Total assets turnover: 1.9 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =

Consider the following financial data for J. White Industries:

Total assets turnover: 1.9 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 28% Total liabilities-to-assets ratio: 35% Quick ratio: 1.00 Days sales outstanding (based on 365-day year): 33 days Inventory turnover ratio: 4.0

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

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