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Complete the balance sheet and sales information using thefollowing financial data:Total assets turnover: 1.3xDays sales outstanding: 37 daysaInventory turnover ratio: 6xFixed assets turnover: 3.5xCurrent ratio: 1.9xGross 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 SheetCash$ Current liabilities$ Accounts receivable Long-term debt80,000Inventories Common stock Fixed assets Retained earnings140,000Total assets$400,000Total liabilities and equity$ Sales$ Cost of goods sold$ **PLEASE MAKE SURE TO LIST ALL ANSWERSCLEARLY****INCLUDE ALL ANSWERS
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