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

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Finance

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 IncomeStatement
Information
Sales$  
Cost of goods sold$  

Balance Sheet

Cash$  Accounts payable$  
Accounts receivable$  Long-term debt$  50,000
Inventories$  Common stock$  
Fixed assets$  Retained earnings$  100,000
Total assets$  400,000Total liabilities and equity$  

Answer & Explanation Solved by verified expert
4.0 Ratings (650 Votes)
Total liabilities and equity Total Assets 400000 Total liabilities Total liabilitiestoassets ratio Total Assets 055 400000 220000 Total Equity Total Assets Total liabilities 400000 220000 180000 Common Stock Total Equity Retained Earnings 180000 100000 80000 Accounts Payable Total    See Answer
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