Complete the balance sheet and sales information using thefollowing financial data:
Total assets turnover: 1.4×
Days sales outstanding: 36.5 daysa
Inventory turnover ratio: 5×
Fixed assets turnover: 2.5×
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 tothe nearest dollar.
| Balance Sheet |
| | | | |
| Cash | $ | | Current liabilities | $ |
| Accounts receivable | | | Long-term debt | 78,000 |
| Inventories | | | Common stock | |
| Fixed assets | | | Retained earnings | 136,500 |
| Total assets | $390,000 | | Total liabilities and equity | $ |
| Sales | $ | | Cost of goods sold | $ |
