eBook

Complete the balance sheet and sales information using the following financial data:

Total assets turnover: $1$

Days sales outstanding: $36\mathrm{.}5$ days ${?}^a$

Inventory turnover ratio: $3\mathrm{.}75$

Fixed assets turnover: $2\mathrm{.}5x$

Current ratio: $2\mathrm{.}0x$

Gross profit margin on sales: $($Sales $-$ Cost of goods sold$)/$Sales $=30\%$

${?}^a$ Calculation is based on a $365-$day year.

Do not round intermediate calculations. Round your answers to the nearest dollar.

Balance Sheet

$\backslash$table$[[$Cash$,$$$,,$Current liabilities,$$,],[$Accounts receivable,,,Long$-$term debt,,$82,500],[$Inventories$,,,$Common stock,,$],[$Fixed assets,,,Retained earnings,,$82,500],[$Total assets,,$$330,000,$Total liabilities and equity,$$,],[$Sales$,$$$,,$Cost of goods sold,$$,]]$