13. Problem 4.22 Click here to read the eBook: Ratio Analysis Click here to read the eBook: Liquidity Ratios Click here to read the eBook: Asset Management Ratios Click here to read the eBook: Profitability Ratios Problem Walk-Through BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1x Days sales outstanding: 37.5 daysa Inventory turnover ratio: 7x Fixed assets turnover: 2.5x Current ratio: 2x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 15% Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answer to the nearest cent. Balance Sheet Current liabilities Cash $ 87,500 Accounts receivable Inventories Long-term debt Common stock Retained earnings Total liabilities and equity 122,500 Fixed assets Total assets $350,000 $ Sales $ Cost of goods sold $