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A corporate finance question, please provide a detailed explanation and example.
"BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.5 X
Days sales outstanding: 36.5 days*
Inventory turnover ratio: 5 X
Fixed assets turnover: 3.0 X
Current ratio: 2.0 X
Gross profit margin on sales: (Sales Cost of goods sold) Sales 25%
*Calculation is based on a 365-day year.
BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following financial data:
| | | Balance Sheet | | | |
| | | | | | | | |
| Cash | | | Current liabilities | |
| Accounts receivable | | | Long-term debt | $600,00 |
| Inventories | | | Common stock | |
| Fixed assets | | | Retained earnings | $97,500 |
| Total assets | $300,000 | | Total liabilities and equity | |
| Sales | | | Cost of goods sold | |
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