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: 1.3 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20% Total liabilities-to-assets ratio: 45% Quick ratio: 0.90 Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.50 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales? Cost of goods sold? Balance Sheet

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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: 1.3
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20%
Total liabilities-to-assets ratio: 45%
Quick ratio: 0.90
Days' sales outstanding (based on 365-day year): 36.5 days
Inventory turnover ratio: 3.50

Do not round intermediate calculations. Round your answers to the nearest whole dollar.

Partial Income Statement Information

Sales?

Cost of goods sold?

Balance Sheet

 

Partial Income Statement Information
Sales
Cost of goods sold
Balance Sheet
Assets
Liabilities and Equity
Cash
Accounts payable
Accounts receivable
Long-term debt
50,000
Inventories
Common stock
Fixed assets
Retained earnings
100,000
Total assets
400,000
Total liabilities and equity
%24
Transcribed Image Text:Partial Income Statement Information Sales Cost of goods sold Balance Sheet Assets Liabilities and Equity Cash Accounts payable Accounts receivable Long-term debt 50,000 Inventories Common stock Fixed assets Retained earnings 100,000 Total assets 400,000 Total liabilities and equity %24
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