Homework 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: 1.9 : Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25% Total liabilities-to-assets ratio: 40% Quick ratio: 1.00 : Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.50 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales s 7,60,000.00 Cost of goods sold 5,70,000.00 Balance Sheet Assets Liabilities and Equity Cash $ Accounts payable S 84,000 1,10,000 X Accounts receivable Long-term debt 50,000 76,000 Inventories Common stock 1,62,857 1,40,000 X 100,000 Fixed assets Retained earnings 77,143 400,000 Total assets S Total liabilities and equity 4,00,000 Hide Feedback