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: 1.3
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =23%
Total liabilities-to-assets ratio: 55%
Quick ratio: 1.25
Days sales outstanding (based on 365-day year): 33 days
Inventory turnover ratio: 6.0
Round your answers to the nearest whole dollar.
| Partial Income | Statement
Information |
| Sales | $Â Â |
| Cost of goods sold | $Â Â |
Balance Sheet
| Cash | $Â Â | Accounts payable | $Â Â |
| Accounts receivable | $Â Â | Long-term debt | $Â Â 50,000 |
| Inventories | $Â Â | Common stock | $Â Â |
| Fixed assets | $Â Â | Retained earnings | $Â Â 100,000 |
| Total assets | $Â Â 400,000 | Total liabilities and equity | $Â Â |
