Excel Online Structured Activity: Balance Sheet Analysis Consider the following financial data for J. White Industries: Total assets turnover: 2.8 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =30% Total liabilities-to-assets ratio: 45% Quick ratio: 1.20 Days sales outstanding (based on 365 -day year): 32.5 days Inventory turnover ratio: 5.0 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. 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. Balance Sheet Analysis \begin{tabular}{|l|r|} \hline Total assets turnover & 2.80 \\ \hline Gross profit margin on sales & 30.00% \\ \hline Total liabilities-to-assets ratio & 45.00% \\ \hline Quick ratio & 1.20 \\ \hline Days sales outstanding & 32.50 \\ \hline Inventory turnover ratio & 5.00 \\ \hline Total assets & $400,000 \\ \hline Long-term debt & 50,000 \\ \hline Retained earnings & 100,000 \\ \hline Number of days in year & 365 \\ \hline \end{tabular} Financial Statements Formulas Partial Income: Sales #N/A Cost of good sold #N/A Balance Sheet: Cash Accounts receivable Inventories Fixed assets Total assets $400,000 Accounts payable Long-term debt Common stock Retained earnings Total liabilities and equity \begin{tabular}{r|r} HN/A \\ HH/N/A \\ HN/A \\ \hline \end{tabular} Excel Online Structured Activity: Balance Sheet Analysis Consider the following financial data for J. White Industries: Total assets turnover: 2.8 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =30% Total liabilities-to-assets ratio: 45% Quick ratio: 1.20 Days sales outstanding (based on 365 -day year): 32.5 days Inventory turnover ratio: 5.0 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. 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. Balance Sheet Analysis \begin{tabular}{|l|r|} \hline Total assets turnover & 2.80 \\ \hline Gross profit margin on sales & 30.00% \\ \hline Total liabilities-to-assets ratio & 45.00% \\ \hline Quick ratio & 1.20 \\ \hline Days sales outstanding & 32.50 \\ \hline Inventory turnover ratio & 5.00 \\ \hline Total assets & $400,000 \\ \hline Long-term debt & 50,000 \\ \hline Retained earnings & 100,000 \\ \hline Number of days in year & 365 \\ \hline \end{tabular} Financial Statements Formulas Partial Income: Sales #N/A Cost of good sold #N/A Balance Sheet: Cash Accounts receivable Inventories Fixed assets Total assets $400,000 Accounts payable Long-term debt Common stock Retained earnings Total liabilities and equity \begin{tabular}{r|r} HN/A \\ HH/N/A \\ HN/A \\ \hline \end{tabular}