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Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.2x Days sales outstanding: 73.0 daysa Inventory turnover ratio:
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.2x Days sales outstanding: 73.0 daysa Inventory turnover ratio: 3.75 Fixed assets turnover: 2.5x Current ratio: 2.0x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 15% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Cash Accounts receivable Inventories Fixed assets Total assets Sales Balance Sheet Current liabilities +A Long-term debt Common stock Retained earnings $240,000 Total liabilities and equity $ $ Cost of goods sold +A 36,000 60,000
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Total Asset Turnover ratio can be computed as Turnover Total Assets Substituting the values 11 Turno...Get Instant Access to Expert-Tailored Solutions
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