Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.2x...
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Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.2x Days sales outstanding: 73.0 daysa Inventory turnover ratio: 3.75x Fixed assets turnover: 3.0x Current ratio: 2.5x 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 Accounts receivable Inventories Fixed assets Total assets Sales $ $ 69 $330,000 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold $ 69 10 49,500 82,500 Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.2x Days sales outstanding: 73.0 daysa Inventory turnover ratio: 3.75x Fixed assets turnover: 3.0x Current ratio: 2.5x 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 Accounts receivable Inventories Fixed assets Total assets Sales $ $ 69 $330,000 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold $ 69 10 49,500 82,500
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Total assets turnover is 12x Given Total assets turnover is sales total assets Let total assets be x ... View the full answer
Related Book For
Business and Administrative Communication
ISBN: 978-0073403182
10th edition
Authors: Kitty o. locker, Donna s. kienzler
Posted Date:
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