Hi below is a problem I am having. Can you please help me answer: CASH, Total liabilities and equity, and Common stock. Please show your work.

Problem 2: Balance Sheet Analysis

Complete the balance sheet and sales information in the table that follows for XYZ, Inc., using the following financial data:

oTotal assets turnover: 1.5

oGross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25%

oTotal liabilities-to-assets ratio: 40%

oQuick ratio: 0.80

oDays sales outstanding (based on 365-day year): 36.5 days

oInventory turnover ratio: 3.75

Partial Income Statement Information

oSales __$600,000__________

oCost of goods sold __$450,000__________

Balance Sheet Information ______________________________________________________________________________________

oCash ___$28,000________

oAccounts payable___$110,000________

oAccounts receivable ___$60,000________

oLong-term debt 50,000

oInventories___$120,000________

oCommon stock ___________

oFixed assets ___________

oRetained earnings 100,000

oTotal assets $400,000

oTotal liabilities and equity ___________

Work

oSales

Total assets turnover ratio = Sales / Total assets

Sales = Total assets turnover ratio x Total assets

$600,000 = 1.5 x $400,000

oCost of goods sold

Gross profit margin on sales = (Sales - Cost of goods sold)/Sales

Cost of goods sold = Sales - Gross profit margin on sales x Sales

$450,000 = $600,000 - (.25 x $600,0000)

oAccounts receivables

Days sales outstanding = Receivables / (Annual sales/365)

Receivables = Days sales outstanding x (Annual sales/365)

$60,000 = 36.5. x ($600,000/365)

oInventory

Inventory turnover ratio = COGS/Inventory

Inventory = COGS/Inventory Turnover ratio

$120,000 = $450,000/3.75

oCash

Quick ratio = (Current assets - Inventories) / Current liabilities

Quick ratio = ((Cash + Accounts receivable) - Inventories) / Current liabilities

Cash = (Quick ratio x Current liabilities) + Inventories - Accounts receivable

= (.8 x $110,000) + $120,000 - $60,000

Total assets = Cash + Fixed assets + Inventories + Accounts receivable

Cash = Total Assets - Fixed Assets - Inventories - Accounts Receivable

$28,000 = $400,000 - $192,000 - $120,000 - $60,000

oTotal liabilities

Liabilities-to-assets ratio = Total liabilities/Total assets

Total liabilities = Liabilities-to-assets ratio x Total assets

$160,000 = .40 x $400,000

oAccounts payable

Total liabilities = Accounts payable + Long-term debt

Accounts payable = Total liabilities - Long-term debt

$110,000 = $160,000 - $50,000

oFixed assets

Total assets = Cash + Fixed assets + Inventories + Accounts receivable

Fixed assets = Total assets - Cash - Inventories - Accounts receivable

$192,000 = $400,000 - $28,000 - 120,000 - $60000

oTotal liabilities and equity

Total Liabilities and Equity = Accounts payable + Long-term debt + Retained Earnings + Common Stock

= $110,000 + $50,000 + $100,000 +

oCommon stock

Total liabilities and equity = Accounts payable + Long-term debt + Retained earnings + Common stock

Common stock = Total liabilities and equity - Accounts payable - Long-term debt - Retained earnings