omplete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.7 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25% Total liabilities-to-assets ratio: 45% Quick ratio: 1.00 Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.25 Do not round intermediate calculations. Round your answers to the nearest whole dollar. 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 $
omplete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.7 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25% Total liabilities-to-assets ratio: 45% Quick ratio: 1.00 Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.25 Do not round intermediate calculations. Round your answers to the nearest whole dollar. 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 $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
omplete the
Total assets turnover: 1.7
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25%
Total liabilities-to-assets ratio: 45%
Quick ratio: 1.00
Days' sales outstanding (based on 365-day year): 36.5 days
Inventory turnover ratio: 3.25
Do not round intermediate calculations. Round your answers to the nearest whole dollar.
| Partial Income Statement Information | |
| Sales | $ |
| Cost of goods sold |
| Balance Sheet | ||||||
| Assets | Liabilities and Equity | |||||
| Cash | $ | Accounts payable | $ | |||
| Long-term debt | 50,000 | |||||
| Inventories | Common stock | |||||
| Fixed assets | 100,000 | |||||
| Total assets | $ | 400,000 | Total liabilities and equity | $ |
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