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Complete the balance sheet and sales information using thefollowing financial data:Total assets turnover: 1.2×Days sales outstanding: 36.5 daysaInventory turnover ratio: 5×Fixed assets turnover: 2.5×Current ratio: 2.0×Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =15%aCalculation is based on a 365-day year.Do not round intermediate calculations. Round your answers tothe nearest dollar.Balance SheetCash$ Current liabilities$ Accounts receivable Long-term debt36,000Inventories Common stock Fixed assets Retained earnings60,000Total assets$240,000Total liabilities and equity$ Sales$ Cost of goods sold$
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