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Please answer the question in its entirety, and clearly label what is what. 13. Problem 4.22 (Balance Sheet Analysis) 3 eBook Complete the balance sheet
Please answer the question in its entirety, and clearly label what is what.
13. Problem 4.22 (Balance Sheet Analysis) 3 eBook Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1x Days sales outstanding: 73.0 daysa Inventory turnover ratio: 3.75x Fixed assets turnover: 3.0x Current ratio: 2.0x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 30% -Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. $ $ 48,000 Cash Accounts receivable Inventories Fixed assets Total assets Balance Sheet Current liabilities Long-term debt Common stock Retained earnings $240,000 Total liabilities and equity Cost of goods sold 60,000 $ Sales $ $Step by Step Solution
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