Check My Work eBook Problem Walk-Through Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1x Days sales outstanding: 73.0 daysa Inventory turnover ratio: 4x Fixed assets turnover: 3.0x Current ratio: 2.5x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25% Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Balance Sheet Cash $ Current liabilities $ Accounts receivable Long-term debt 48,000 Inventories Common stock Fixed assets Retained earnings 72,000 Total assets $240,000 Total liabilities and equity $ Sales $ Cost of goods sold $ Check My Work