4.13
Complete the balance sheet and sales information using thefollowing financial data:
Total assets turnover: 1.3×
Days sales outstanding: 36.5 daysa
Inventory turnover ratio: 4×
Fixed assets turnover: 3.0×
Current ratio: 2.0×
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =35%
aCalculation is based on a 365-day year.
Do not round intermediate calculations. Round your answers tothe nearest dollar.
| Balance Sheet |
| | | | |
| Cash | $Â Â | | Current liabilities | $Â Â |
| Accounts receivable | Â Â | | Long-term debt | 40,500 |
| Inventories | Â Â | | Common stock | Â Â |
| Fixed assets | Â Â | | Retained earnings | 94,500 |
| Total assets | $270,000 | | Total liabilities and equity | $Â Â |
| Sales | $Â Â | | Cost of goods sold | $Â Â |
