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Given the information that follows, fill in the balance sheet below (45 points): $1,000,000 Sales Gross profit margin Inventory turnover ratio Net profit margin Average

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Given the information that follows, fill in the balance sheet below (45 points): $1,000,000 Sales Gross profit margin Inventory turnover ratio Net profit margin Average collection period Debt ratio Return on assets Quick ratio 25% 10x 4% 45 days 80% 10% 3.0x Notes: Gross profit margin = (Sales-Cost of Goods Sold)/Sales. Use Cost of Goods Sold to compute Inventory Turnover Ratio Assume a 360-day year for Days Sales Outstanding. Accounts payable 50,000 Cash Accounts receivable Inventory Long-term debt Net fixed assets Total Equity Total Liabilities and Equity Total assets A. Compute cost of goods sold

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