Question

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 assets Retained earnings 60,000 Total assets $240,000 Total liabilities and equity $ Sales $ Cost of goods sold $

Answer 1