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Problem 4-22 BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.6x Days sales outstanding: 35

Problem 4-22 BALANCE SHEET ANALYSIS

Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.6x Days sales outstanding: 35 daysa Inventory turnover ratio: 7x Fixed assets turnover: 3.5x Current ratio: 2x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answer to the nearest cent.

Balance Sheet
Cash $ Current liabilities $
Accounts receivable Long-term debt 62,500
Inventories Common stock
Fixed assets Retained earnings 87,500
Total assets $250,000 Total liabilities and equity $
Sales $ Cost of goods sold $

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