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Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1x Days sales...

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Finance

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

Total assets turnover: 1x
Days sales outstanding: 35.5 daysa
Inventory turnover ratio: 3x
Fixed assets turnover: 2.5x
Current ratio: 1.6x
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$  Current liabilities$  
Accounts receivable  Long-term debt48,750
Inventories  Common stock  
Fixed assets  Retained earnings113,750
Total assets$325,000Total liabilities and equity$  
Sales$  Cost of goods sold$  

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