Q.1

Complete the balance sheet and sales information using the following financial data:

Total assets turnover: 1.2 Days sales outstanding: 36.5 days^a Inventory turnover ratio: 4 Fixed assets turnover: 3.0 Current ratio: 2.5 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 30% ^aCalculation is based on a 365-day year.

Do not round intermediate calculations. Round your answers to the nearest dollar.

Cash$ Current liabilities $

Accounts receivable Long-term debt 90,000

Inventories Common stock

Fixed assets Retained earnings 90,000

Total assets $360,000 Total liabilities and equity $

Sales$ Cost of goods sold $