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 $ 640,000 448,000 Balance Sheet Assets Cash Accounts payable Liabilities and Equity $ 90,000 Accounts receivable 64,000 Long-term debt 50,000 Inventories Common stock Fixed assets Retained earnings 100,000 Total assets $ 400,000 Total liabilities and equity $
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 $ 640,000 448,000 Balance Sheet Assets Cash Accounts payable Liabilities and Equity $ 90,000 Accounts receivable 64,000 Long-term debt 50,000 Inventories Common stock Fixed assets Retained earnings 100,000 Total assets $ 400,000 Total liabilities and equity $
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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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
$
640,000
448,000
Balance Sheet
Assets
Cash
Accounts payable
Liabilities and Equity
$
90,000
Accounts receivable
64,000
Long-term debt
50,000
Inventories
Common stock
Fixed assets
Retained earnings
100,000
Total assets
$
400,000
Total liabilities and equity
$
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