Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. complete the balance sheet and sales information u

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

50.1K

Verified Solution

Question

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$  

Answer & Explanation Solved by verified expert
4.0 Ratings (847 Votes)
    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Medical Sciences
1.2K views

. Define Temporal and Spatial summation and explain how each can propagate the occurrence of an...

Biology
1.2K views

The SIM test is actually 3 different tests The S in SIM stands for Sulfur...

Physics
1.2K views

1 60 2 100 3 180 4 240 When a plane mirror is placed horizontally...

Geometry
1.2K views

db are A a 68 b parallel What is the measure of 27 if 22...

Basic Math
1.2K views

You want to be able to withdraw $40,000 each year for 25 years. Your account...

Calculus
1.2K views

sin 5 4121 0 7650 Round to four decimal places cos 5 4121 Round to...

Accounting
1.2K views

During the current year, R received a salary of...

Accounting
1.2K views

You must also state why you selected the Non-profit. Excel File Part 1-...

Accounting
1.2K views

! Required information [The following information applies to the questions displayed below.] ...

Accounting
1.2K views

A company uses the periodic inventory method. An error in the physical count of inventory...

Accounting
1.2K views

Scoresby Incorporated tracks the number of units purchased and sold throughout each year but applies...

Accounting
1.2K views

NOTE ALL are part of Question 4 Andretti Company has a single product...