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  3. complete the balance sheets and sales information

Complete the balance sheets and sales information in the following table, using the following financial...

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Finance

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Complete the balance sheets and sales information in the following table, using the following financial data: Total assets turnover: 2.0 Gross profit margin on sales: 75% Total liabilities-to-assets ratio: 80% Quick ratio: 1.083333333 Days' sales outstanding (based on 365-day year): 82.125 Inventory turnover ratio: 3.333333333 Partial income statement information Sales: Cost of goods sold: Balance sheets information: Cash Accounts receivable Inventories $200,000 Accounts payable Long-term debt Common stocks Retained earnings Total liabilities & equity Fixed assets $120,000 Total assets $1,000,000 a. Calculate the firm's sales and cost of goods sold? (5 points) b. Calculate the accounts receivable, inventories, and total liabilities and equity. (5 points) c. Calculate the total liabilities, current assets, current liabilities (account payable). (5 points) d. Calculate the cash, fixed assets, common stocks. (5 points)

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