Consider the following financial data for J. White Industries:
Total assets turnover: 1.9 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20% Total liabilities-to-assets ratio: 55% Quick ratio: 1.20 Days sales outstanding (based on 365-day year): 36 days Inventory turnover ratio: 6.0
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.
Complete the balance sheet and sales information in the table that follows for J. White Industries. Do not round intermediate calculations. Round your answers to the nearest whole dollar.
Partial IncomeStatementInformationSales$ fill in the blankCost of goods sold$ fill in the blank
Balance Sheet
Cash$ fill in the blankAccounts payable$ fill in the blankAccounts receivable$ fill in the blankLong-term debt$50,000Inventories$ fill in the blankCommon stock$ fill in the blankFixed assets$ fill in the blankRetained earnings$100,000Total assets$400,000Total liabilities and equity$ fill in the blank.
Answer & Explanation
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