eBook Problem Walk-Through

Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.2 Days sales outstanding: 73.0 days^a Inventory turnover ratio: 4 Fixed assets turnover: 3.0 Current ratio: 2.5 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 15% ^aCalculation 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	78,000
Inventories			Common stock
Fixed assets			Retained earnings	97,500
Total assets	$390,000		Total liabilities and equity	$
Sales	$		Cost of goods sold	$