BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following financial data: Total assets turnover:...

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BALANCE SHEET ANALYSIS
Complete the balance sheet and sales information using thefollowing financial data:

Total assets turnover: 1.2x
Days sales outstanding: 39.5 days^a
Inventory turnover ratio: 4x
Fixed assets turnover: 3x
Current ratio: 2.5x
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =25%
^aCalculation is based on a 365-day year. Do not roundintermediate calculations. Round your answer to the nearestcent.
Balance Sheet
Cash $Â Â Current liabilities $Â Â
Accounts receivable Â Â Long-term debt 50,000
Inventories Â Â Common stock Â Â
Fixed assets Â Â Retained earnings 60,000
Total assets $200,000 Total liabilities and equity $Â Â
Sales $Â Â Cost of goods sold $Â Â

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Total assets 200000 Total assets turnover Sales Total assets 12 Sales 200000 Sales revenue 240000 Days sales outstanding 365 sales Accounts receivable 395 365 240000 Accounts receivable Accounts receivable 25973 Gross Profit rate Gross Profit Salles 100 See Answer

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Balance Sheet

Cash	$Â Â	Current liabilities	$Â Â
Accounts receivable	Â Â	Long-term debt	50,000
Inventories	Â Â	Common stock	Â Â
Fixed assets	Â Â	Retained earnings	60,000
Total assets	$200,000	Total liabilities and equity	$Â Â
Sales	$Â Â	Cost of goods sold	$Â Â