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Balance Sheet AnalysisComplete the balance sheet and sales information in the tablethat follows for J. White Industries using the following financialdata:Total assets turnover: 1.6Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =25%Total liabilities-to-assets ratio: 45%Quick ratio: 1.05Days' sales outstanding (based on 365-day year): 36.5 daysInventory turnover ratio: 3.75Do not round intermediate calculations. Round your answers tothe nearest whole dollar.Partial Income StatementInformationSales$ Cost of goods sold$ Balance SheetCash$ Accounts payable$ Accounts receivable$ Long-term debt$ 50,000Inventories$ Common stock$ Fixed assets$ Retained earnings$ 100,000Total assets$ 400,000Total liabilities and equity$