Complete the balance sheet and sales information using thefollowing financial data:
Total assets turnover: 1.2x
Days sales outstanding: 31.5 daysa
Inventory turnover ratio: 5x
Fixed assets turnover: 2.5x
Current ratio: 2.1x
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =30%
aCalculation is based on a 365-day year. Do not roundintermediate calculations. Round your answer to the nearestcent.
| Balance Sheet |
| | | | |
| Cash | $Â Â | | Current liabilities | $Â Â |
| Accounts receivable | Â Â | | Long-term debt | 62,500 |
| Inventories | Â Â | | Common stock | Â Â |
| Fixed assets | Â Â | | Retained earnings | 75,000 |
| Total assets | $250,000 | | Total liabilities and equity | $Â Â |
| Sales | $Â Â | | Cost of goods sold | $Â Â |
