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Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows...

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Accounting

Balance Sheet Analysis

Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data:

Total assets turnover: 1.8 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20% Total liabilities-to-assets ratio: 40% Quick ratio: 0.80 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 $

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