Complete the balance sheet and sales information using the following financial data: Total assets turnover:...
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Finance
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.8x Days sales outstanding: 43 daysa Inventory turnover ratio: 7x Fixed assets turnover: 3.5x Current ratio: 2.3x 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 | 62,500 | ||
| Inventories | Common stock | |||
| Fixed assets | Retained earnings | 75,000 | ||
| Total assets | $250,000 | Total liabilities and equity | $ | |
| Sales | $ | Cost of goods sold | $ | |
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