Question

In: Finance

Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.5x...

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

Total assets turnover: 1.5x
Days sales outstanding: 39 daysa
Inventory turnover ratio: 7x
Fixed assets turnover: 2.5x
Current ratio: 1.5x
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 answer to the nearest cent.

Balance Sheet
Cash $   Current liabilities $  
Accounts receivable    Long-term debt 48,750
Inventories    Common stock   
Fixed assets    Retained earnings 97,500
Total assets $325,000 Total liabilities and equity $  
Sales $   Cost of goods sold $  

Solutions

Expert Solution



Related Solutions

Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.3×...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.3× Days sales outstanding: 73.0 daysa Inventory turnover ratio: 5× Fixed assets turnover: 3.0× Current ratio: 2.0× 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. Balance Sheet Cash $ Current liabilities $ Accounts receivable Long-term debt 48,000 Inventories Common stock Fixed...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4x...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4x Days sales outstanding: 36.5 daysa Inventory turnover ratio: 4x Fixed assets turnover: 3x Current ratio: 1.9x 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 answer to the nearest cent. Balance Sheet Cash $ Current liabilities $ Accounts receivable Long-term debt 50,000 Inventories Common stock Fixed...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4x...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4x Days sales outstanding: 36.5 daysa Inventory turnover ratio: 4x Fixed assets turnover: 3x Current ratio: 1.9x 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 answer to the nearest cent. Balance Sheet Cash $ Current liabilities $ Accounts receivable Long-term debt 50,000 Inventories Common stock Fixed...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1×...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1× Days sales outstanding: 73.0 daysa 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. Balance Sheet Cash $   Current liabilities $   Accounts receivable    Long-term debt 67,500 Inventories    Common...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.2x...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.2x Days sales outstanding: 41.5 daysa Inventory turnover ratio: 7x Fixed assets turnover: 3x Current ratio: 1.5x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 35% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest cent. Balance Sheet Cash $   Current liabilities $   Accounts receivable    Long-term debt 30,000 Inventories    Common...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.6x...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.6x Days sales outstanding: 30.5 daysa Inventory turnover ratio: 5x Fixed assets turnover: 3.5x Current ratio: 1.7x 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 75,000 Inventories    Common...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4×...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4× Days sales outstanding: 36.5 daysa Inventory turnover ratio: 5× Fixed assets turnover: 3.0× Current ratio: 2.0× Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 35% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Balance Sheet Cash $   Current liabilities $   Accounts receivable    Long-term debt 60,000 Inventories    Common...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1x...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1x Days sales outstanding: 33 daysa Inventory turnover ratio: 3x Fixed assets turnover: 3x Current ratio: 1.6x 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 answer to the nearest cent. Balance Sheet: Cash $ = ? Current liabilities $ = ? Accounts receivable = ? Long-term...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1×...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1× Days sales outstanding: 73.0 daysa Inventory turnover ratio: 4× Fixed assets turnover: 2.5× Current ratio: 2.0× 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 answers to the nearest dollar. Balance Sheet Cash $ Current liabilities $ Accounts receivable Long-term debt 66,000 Inventories Common stock Fixed...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1×...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1× Days sales outstanding: 73.0 daysa Inventory turnover ratio: 5× Fixed assets turnover: 3.0× Current ratio: 2.5× 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. Balance Sheet Cash $   Current liabilities $   Accounts receivable    Long-term debt 67,500 Inventories    Common...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT