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Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4x Days sales...

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Finance

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

Total assets turnover: 1.4x
Days sales outstanding: 37.5 daysa
Inventory turnover ratio: 4x
Fixed assets turnover: 3x
Current ratio: 2.1x
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.

Cash$   Current liabilities$   
Accounts receivable  Long-term debt30,000
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 (689 Votes)
1 Total assets turnover SalesTotal assets 14 Sales Total assets14 20000014 280000 2 Cost of goods sold COGS Gross margin 1 COGSSales COGS Sales1 Gross margin 280000125 210000 3 Fixed asset    See Answer
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Complete the balance sheet and sales information using thefollowing financial data:Total assets turnover: 1.4xDays sales outstanding: 37.5 daysaInventory turnover ratio: 4xFixed assets turnover: 3xCurrent ratio: 2.1xGross 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.Cash$   Current liabilities$   Accounts receivable  Long-term debt30,000Inventories  Common stock  Fixed assets  Retained earnings60,000Total assets$200,000Total liabilities and equity$   Sales$   Cost of goods sold$   

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