eBook Problem Walk-Through Complete the balance sheet and sales information using the following financial data:...
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eBook Problem Walk-Through Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4x Days sales outstanding: 36.5 days Inventory turnover ratio: 4x Fixed assets turnover: 2.5x Current ratio: 2.0x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20% Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Balance Sheet Cash $ Current liabilities Accounts receivable Long-term debt Inventories Common stock Fixed assets Retained earnings Total assets $300,000 Total liabilities and equity Sales Cost of goods sold VE 75,000 75,000 $ $ $ Grade it Now Save & Continue Continue without saving
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