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Consider the following financial data for J. White Industries:

Total assets turnover: 1.8 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 28% Total liabilities-to-assets ratio: 60% Quick ratio: 0.80 Days sales outstanding (based on 365-day year): 31 days Inventory turnover ratio: 5.0

The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below.

Balance Sheet Analysis
Total assets turnover	1.80
Gross profit margin on sales	28.00%
Total liabilities-to-assets ratio	60.00%
Quick ratio	0.80
Days sales outstanding	31.00
Inventory turnover ratio	5.00
Total assets	$400,000
Long-term debt	50,000
Retained earnings	100,000
Number of days in year	365
Financial Statements			Formulas
Partial Income:
Sales			#N/A
Cost of good sold			#N/A
Balance Sheet:
Cash			#N/A
Accounts receivable			#N/A
Inventories			#N/A
Fixed assets			#N/A
Total assets	$400,000
Accounts payable			#N/A
Long-term debt	50,000
Common stock			#N/A
Retained earnings	100,000
Total liabilities and equity			#N/A

Please show full formulas thank you

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