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3.  Problem 3-11 (Balance Sheet Analysis) Balance Sheet Analysis Complete the balance sheet and sales information in the...

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Finance

3.  Problem 3-11 (Balance Sheet Analysis)

Balance Sheet Analysis

Complete the balance sheet and sales information in the tablethat follows for J. White Industries using the following financialdata:

Total assets turnover: 1.7
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =30%
Total liabilities-to-assets ratio: 40%
Quick ratio: 0.90
Days' sales outstanding (based on 365-day year): 36.5 days
Inventory turnover ratio: 3.25

Do not round intermediate calculations. Round your answers tothe nearest whole dollar.

Partial Income StatementInformation
Sales$  
Cost of goods sold    
Balance Sheet
AssetsLiabilities and Equity
Cash$  Accounts payable$  
Accounts receivable  Long-term debt  50,000
Inventories  Common stock  
Fixed assets  Retained earnings  100,000
Total assets$  400,000Total liabilities and equity$  

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