book Challenging Problems 11-14 7-11 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: 1.5 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales 25% Total liabilities-to-assets ratio: 40% Quick ratio: 0.80 Days sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.75 Partial Income Statement Information Sales Cost of goods sold Balance Sheet Cash Accounts receivable Inventories Fixed assets 50,000 Accounts payable Long-term debt Common stock Retained earnings 100,000 Cannnnn Tatllibilitimi and naut ENG 528 2/12 Tato rente