Ch 04: End-of-Chapter Problems - Analysis of Financial Statements 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: 1.2x Days sales outstanding: 41 days Inventory turnover ratio: 5x Fixed assets turnover: 3.5x Current ratio: 1.9% Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 35% *Calculation is based on a 365-day year. Do not round intermediate calculations, Round your answer to the nearest cent. Balance Sheet Cash $ Current liabilities 50,000 Accounts receivable Inventories Fixed assets Total assets Long-term debt Common stock Retained earnings Total liabilities and equity $200,000 70,000 $ Sales $ Cost of goods sold $