Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1x Days sales outstanding: 36 days Inventory turnover ratio: 3x Fixed assets turnover: 2.5x Current ratio: 2.3x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 35% Activity Frame aCalculation is based on a 365-day year. Do not round intermediate calculations. Kouna your answer to the nearest cent. Balance Sheet Cash Accounts receivable Inventories $ Current liabilities $ Long-term debt 50,000 Common stock Fixed assets Retained earnings 75,000 Total assets $250,000 Total liabilities and equity $ Sales $ Cost of goods sold $
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1x Days sales outstanding: 36 days Inventory turnover ratio: 3x Fixed assets turnover: 2.5x Current ratio: 2.3x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 35% Activity Frame aCalculation is based on a 365-day year. Do not round intermediate calculations. Kouna your answer to the nearest cent. Balance Sheet Cash Accounts receivable Inventories $ Current liabilities $ Long-term debt 50,000 Common stock Fixed assets Retained earnings 75,000 Total assets $250,000 Total liabilities and equity $ Sales $ Cost of goods sold $
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:Complete the balance sheet and sales information using the following financial data:
Total assets turnover: 1x
Days sales outstanding: 36 days
Inventory turnover ratio: 3x
Fixed assets turnover: 2.5x
Current ratio: 2.3x
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 35%
Activity Frame
aCalculation is based on a 365-day year. Do not round intermediate calculations. Kouna your answer to the nearest cent.
Balance Sheet
Cash
Accounts receivable
Inventories
$
Current liabilities
$
Long-term debt
50,000
Common stock
Fixed assets
Retained earnings
75,000
Total assets
$250,000
Total liabilities and equity
$
Sales
$
Cost of goods sold
$
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