Question

3.  Problem 3-11 (Balance Sheet Analysis)

Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.7 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 30% Total liabilities-to-assets ratio: 40% Quick ratio: 0.90 Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.25 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales $   Cost of goods sold      Balance Sheet Assets Liabilities and Equity Cash $    Accounts payable $    Accounts receivable    Long-term debt   50,000 Inventories    Common stock    Fixed assets    Retained earnings   100,000 Total assets $   400,000 Total liabilities and equity $

Answer 1