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: 1.3x Days sales outstanding: 39.5 days Inventory turnover ratio: 4x Fixed assets turnover: 3.5x Current ratio: 2.5x 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 Cash Accounts receivable Inventories Fixed assets Total assets Sales Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold 52,500 105,000 $350,000