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Problem 4-21. Balance sheet analysis Complete the balance sheet and sales information that follows using the following financial data: Debt ratio: 55% Current ratio: 2.3x

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Problem 4-21. Balance sheet analysis Complete the balance sheet and sales information that follows using the following financial data: Debt ratio: 55% Current ratio: 2.3x Total assets turnover: 2.9x Days sales outstanding: 28 daysa Gross profit margin on sales: (Sales Cost of goods sold)/Sales = 30% Inventory turnover ratio: 7X aCalculation is based on a 365-day year. Round your answer to two decimal places. Balance Sheet a. Cash b. Accounts payable C. Accounts receivable Longterm debt 75,000

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