Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1× Days sales outstanding: 73.0 daysa Inventory turnover ratio: 4× Fixed assets turnover: 2.5× Current ratio: 2.0× Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Balance Sheet Cash $ Current liabilities $ Accounts receivable Long-term debt 54,000 Inventories Common stock Fixed assets Retained earnings 108,000 Total assets $360,000 Total liabilities and equity $ Sales $ Cost of goods sold $
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1× Days sales outstanding: 73.0 daysa Inventory turnover ratio: 4× Fixed assets turnover: 2.5× Current ratio: 2.0× Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Balance Sheet Cash $ Current liabilities $ Accounts receivable Long-term debt 54,000 Inventories Common stock Fixed assets Retained earnings 108,000 Total assets $360,000 Total liabilities and equity $ Sales $ Cost of goods sold $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Complete the
Total assets turnover: 1.1×
Days sales outstanding: 73.0 daysa
Inventory turnover ratio: 4×
Fixed assets turnover: 2.5×
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20%
aCalculation is based on a 365-day year.
Do not round intermediate calculations. Round your answers to the nearest dollar.
| Balance Sheet | ||||
| Cash | $ | Current liabilities | $ | |
| Long-term debt | 54,000 | |||
| Inventories | Common stock | |||
| Fixed assets | 108,000 | |||
| Total assets | $360,000 | Total liabilities and equity | $ | |
| Sales | $ | Cost of goods sold | $ |
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