Excel Online Structured Activity: Balance Sheet Analysis Consider the following financial data for J. White Industries: Total assets turnover: 2.5 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20% Total liabilities-to-assets ratio: 45% Quick ratio: 1.05 Days sales outstanding (based on 365-day year): 39.5 days Inventory turnover ratio: 7.0 The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. X Open spreadsheet Complete the balance sheet and sales information in the table that follows for J. White Industries. Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales Cost of goods sold $ Cash Accounts payable Accounts receivable $ 50,000 Inventories A Long-term debt Common stock Retained earnings Fixed assets A $ 100,000 Total assets $ 400,000 Total liabilities and equity $ Balance Sheet Analysis Total assets turnover Gross profit margin on sales Total liabilities-to-assets ratio Quick ratio Days sales outstanding Inventory turnover ratio Total assets Long-term debt Retained earnings Number of days in year 2.50 20.00% 45.00% 1.05 39.50 7.00 $400,000 50,000 100,000 365 Formulas Financial Statements Partial Income: Sales Cost of good sold #N/A #NA Balance Sheet: Cash Accounts receivable #N/A #N/A Accounts receivable Inventories Fixed assets Total assets #N/A #N/A #N/A $400,000 #N/A 50,000 Accounts payable Long-term debt Common stock Retained earnings Total liabilities and equity #NA 100,000 #N/A