Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.3x Days sales outstanding: 36.5 days Inventory turnover ratio: 3.75x Fixed assets turnover: 3.0x Current ratio: 2.5x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 15% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Cash Accounts receivable Inventories Fixed assets Total assets Sales $ Balance Sheet $360,000 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold $ $ $ 54,000 126,000
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.3x Days sales outstanding: 36.5 days Inventory turnover ratio: 3.75x Fixed assets turnover: 3.0x Current ratio: 2.5x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 15% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Cash Accounts receivable Inventories Fixed assets Total assets Sales $ Balance Sheet $360,000 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold $ $ $ 54,000 126,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:18. Problem 4.22 (Balance Sheet Analysis)
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Complete the balance sheet and sales information using the following financial data:
Total assets turnover: 1.3x
Days sales outstanding: 36.5 days
Inventory turnover ratio: 3.75x
Fixed assets turnover: 3.0x
Current ratio: 2.5x
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 answers to the nearest dollar.
Cash
Accounts receivable
Inventories
Fixed assets
Total assets
Sales
$
$
Balance Sheet
$360,000
Current liabilities
Long-term debt
Common stock
Retained earnings
Total liabilities and equity
Cost of goods sold
$
LA
पी
$
54,000
126,000
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