1. Problem 4.22 (Balance Sheet Analysis) eBook Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1x Days sales outstanding: 36.5 days Inventory turnover ratio: 3.75x Fixed assets turnover: 2.5x Current ratio: 2.0x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20% Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Balance Sheet Cash Accounts receivable Inventories Fixed assets Total assets Sales 49 $390,000 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold 69 $ $ 78,000 97,500

1. Problem 4.22 (Balance Sheet Analysis) eBook Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1x Days sales outstanding: 36.5 days Inventory turnover ratio: 3.75x Fixed assets turnover: 2.5x Current ratio: 2.0x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20% Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Balance Sheet Cash Accounts receivable Inventories Fixed assets Total assets Sales 49 $390,000 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold 69 $ $ 78,000 97,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

A 157.

Subject:- finance

1. Problem 4.22 (Balance Sheet Analysis)
eBook
Complete the balance sheet and sales information using the following financial data:
Total assets turnover: 1x
Days sales outstanding: 36.5 days
Inventory turnover ratio: 3.75x
Fixed assets turnover: 2.5x
Current ratio: 2.0x
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20%
Calculation is based on a 365-day year.
Do not round intermediate calculations. Round your answers to the nearest dollar.
Balance Sheet
Cash
Accounts receivable
Inventories
Fixed assets
Total assets
Sales
49
$390,000
Current liabilities
Long-term debt
Common stock
Retained earnings
Total liabilities and equity
Cost of goods sold
69
$
$
699
78,000
97,500

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