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BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following financial data: Total assets turnover:...

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Finance

BALANCE SHEET ANALYSIS

Complete the balance sheet and sales information using thefollowing financial data:

Total assets turnover: 1.2x
Days sales outstanding: 39.5 daysa
Inventory turnover ratio: 4x
Fixed assets turnover: 3x
Current ratio: 2.5x
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =25%
aCalculation is based on a 365-day year. Do not roundintermediate calculations. Round your answer to the nearestcent.

Balance Sheet
Cash$  Current liabilities$  
Accounts receivable  Long-term debt50,000
Inventories  Common stock  
Fixed assets  Retained earnings60,000
Total assets$200,000Total liabilities and equity$  
Sales$  Cost of goods sold$  

Answer & Explanation Solved by verified expert
4.5 Ratings (918 Votes)
Total assets 200000 Total assets turnover Sales Total assets 12 Sales 200000 Sales revenue 240000 Days sales outstanding 365 sales Accounts receivable 395 365 240000 Accounts receivable Accounts receivable 25973 Gross Profit rate Gross Profit Salles 100    See Answer
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