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Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1x...

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

Total assets turnover: 1x
Days sales outstanding: 35.5 daysa
Inventory turnover ratio: 3x
Fixed assets turnover: 2.5x
Current ratio: 1.6x
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25%
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 48,750
Inventories    Common stock   
Fixed assets    Retained earnings 113,750
Total assets $325,000 Total liabilities and equity $  
Sales $   Cost of goods sold $  

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jeff jeffy answered 1 day ago
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