Question: Complete the balance sheet and sales information using the following financial data: Debt ratio: 50% Current ratio: 1.8( Total assets turnover: 1.5( Days sales outstanding:

Complete the balance sheet and sales information using the following financial data:

Debt ratio: 50%

Current ratio: 1.8(

Total assets turnover: 1.5(

Days sales outstanding: 36.5 daysa

Gross profit margin on sales: (Sales = Cost of goods sold)/Sales ! 25%

Inventory turnover ratio: 5(

aCalculation is based on a 365-dayyear.

Balance Sheet Accounts payable Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold Cash Accounts receivable Inventories Fixed assets Total assets Sales 60,000 97,500 $300,000

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