BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1x1 Days sales outstanding: 37 days Inventory turnover ratio: 4x Fixed assets turnover: 2.5x Current ratio: 1.5x Gross profit margin on sales: (Sales Cost of goods sold)/Sales 15% "Calculation is based on a 365-day year. Do not round intermediate calculations, Round your answer to the nearest cent. Balance Sheet Cash Accounts receivable Inventories Fixed assets Total assets Sales $200,000 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold $ 30,000 60,000 $
BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1x1 Days sales outstanding: 37 days Inventory turnover ratio: 4x Fixed assets turnover: 2.5x Current ratio: 1.5x Gross profit margin on sales: (Sales Cost of goods sold)/Sales 15% "Calculation is based on a 365-day year. Do not round intermediate calculations, Round your answer to the nearest cent. Balance Sheet Cash Accounts receivable Inventories Fixed assets Total assets Sales $200,000 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold $ 30,000 60,000 $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
996
Transcribed Image Text:BALANCE SHEET ANALYSIS
Complete the balance sheet and sales information using the following financial data:
Total assets turnover: 1.1x1
Days sales outstanding: 37 days
Inventory turnover ratio: 4x
Fixed assets turnover: 2.5x
Current ratio: 1.5x
Gross profit margin on sales: (Sales Cost of goods sold)/Sales - 15%
"Calculation is based on a 365-day year. Do not round intermediate calculations, Round your answer to the nearest cent.
Balance Sheet
Cash
Accounts receivable
Inventories
Fixed assets
Total assets
Sales
$
$200,000
$
Current liabilities
Long-term debt.
Common stock
Retained earnings
Total liabilities and equity.
Cost of goods sold
$
30,000
60,000
$
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