Complete the balance sheet and sales information in the table that follows for J. White...
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Finance
Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.4 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25% Total liabilities-to-assets ratio: 40% Quick ratio: 0.70 Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.75 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information
Sales $ 560000
Cost of goods sold $420000
Balance Sheet
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 ________
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