Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.6 Gross profit margin on sales: (Sales Cost of goods sold)/Sales = 30% Total liabilities-to-assets ratio: 35% Quick ratio: 1.20 Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.25 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales Cost of goods sold Balance Sheet Cash Accounts Assets LA $ receivable Inventories Fixed assets Total assets A LA $ 640,000 448,000 Liabilities and Equity Accounts payable $ 90,000 64,000 Long-term debt 50,000 Common stock Retained earnings 400,000 Total liabilities and equity SA $ 100,000
Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.6 Gross profit margin on sales: (Sales Cost of goods sold)/Sales = 30% Total liabilities-to-assets ratio: 35% Quick ratio: 1.20 Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.25 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales Cost of goods sold Balance Sheet Cash Accounts Assets LA $ receivable Inventories Fixed assets Total assets A LA $ 640,000 448,000 Liabilities and Equity Accounts payable $ 90,000 64,000 Long-term debt 50,000 Common stock Retained earnings 400,000 Total liabilities and equity SA $ 100,000
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 4PB
Related questions
Question
![Balance Sheet Analysis
Complete the balance sheet and sales information in the table that
follows for J. White Industries using the following financial data:
Total assets turnover: 1.6
Gross profit margin on sales: (Sales Cost of goods sold)/Sales = 30%
Total liabilities-to-assets ratio: 35%
Quick ratio: 1.20
Days' sales outstanding (based on 365-day year): 36.5 days
Inventory turnover ratio: 3.25
Do not round intermediate calculations. Round your answers to the
nearest whole dollar.
Partial Income Statement Information
Sales
Cost of goods sold
Balance Sheet
Cash
Accounts
Assets
LA
$
receivable
Inventories
Fixed assets
Total assets
A
LA
$
640,000
448,000
Liabilities and Equity
Accounts payable $
90,000
64,000
Long-term debt
50,000
Common stock
Retained
earnings
400,000 Total liabilities
and equity
SA
$
100,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9bf67123-b445-409c-b287-0a721a0b62df%2F61ed7ec2-67e4-4e17-88a7-fb4208830b45%2Fg9djlq4_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Balance Sheet Analysis
Complete the balance sheet and sales information in the table that
follows for J. White Industries using the following financial data:
Total assets turnover: 1.6
Gross profit margin on sales: (Sales Cost of goods sold)/Sales = 30%
Total liabilities-to-assets ratio: 35%
Quick ratio: 1.20
Days' sales outstanding (based on 365-day year): 36.5 days
Inventory turnover ratio: 3.25
Do not round intermediate calculations. Round your answers to the
nearest whole dollar.
Partial Income Statement Information
Sales
Cost of goods sold
Balance Sheet
Cash
Accounts
Assets
LA
$
receivable
Inventories
Fixed assets
Total assets
A
LA
$
640,000
448,000
Liabilities and Equity
Accounts payable $
90,000
64,000
Long-term debt
50,000
Common stock
Retained
earnings
400,000 Total liabilities
and equity
SA
$
100,000
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