11. Problem 7-11 (Balance Sheet Analysis) eBook Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 2 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 30% Total liabilities-to-assets ratio: 50% Quick ratio: 1.05 Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.25 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales Cost of goods sold $ Balance Sheet Cash Accounts receivable $ 50,000 Inventories Accounts payable Long-term debt Common stock Retained earnings Total liabilities and equity $ 100,000 Fixed assets Total assets $ 400,000