2. Complete problem: Balance Sheet Analysis
   • Complete the balance sheet and sales information in the table that follows for XYZ, Inc., using the following financial data:
   • Show your work.

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		60000
	Costs of goods sold		45000

Balance Sheet Information

	Cash		25556		Accounts payable		(34000)
	Accounts receivable		1644		Long-term debt		50,000
	Inventories		16000		Common Stock
	Fixed Assets				Retained earnings		100,00
	Total Assets		$400,000		Total liabilities and equity

Please double check my work and then the blanks