eBook Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.5 Gross profit margin on sales: (Sales Cost of goods sold)/Sales = 20% Total liabilities-to-assets ratio: 45% Quick ratio: 1.10 Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.25 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales $ 600000 Cost of goods sold 450000 Partial Income Statement Information Sales 600000 Cost of goods sold 450000 Balance Sheet Assets Liabilities and Equity Cash $ Accounts payable $ 28000 110000 Accounts receivable Long-term debt 50,000 60000 Inventories Common stock 120000 Fixed assets Retained earnings 140000 100,000 192000 Total assets 400,000 Total liabilities and equity $ 400000 Hide Feedback Partially Correct