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Consider the following financial data for J. White Industries: Total assets turnover: 2.2 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =

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Consider the following financial data for J. White Industries: Total assets turnover: 2.2 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 27% Total liabilities-to-assets ratio: 40% Quick ratio: 1.05 Days sales outstanding (based on 365-day year): 38.5 days Inventory turnover ratio: 5.0 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. 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. Statement Partial Income 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 Total liabilities and equity $ $ $ $ $ $ $ $ 400,000

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