ook Problem 3-11 Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.2 Gross profit margin on sales: (Sales Cost of goods sold)/Sales 25% Total liabilities-to-assets ratio: 55% Quick ratio: 1.25 Days sales outstanding (based on 365-day year): 30.5 days Inventory turnover ratio: 5.0 Round your answers to the nearest whole dollar. Partial Income Statement Information $ 480,00 Sales Cost of goods sold $120,00 Balance Sheet Cash Accounts payable Accounts receivable Long-term debt 50,000 Inventories Common stock Retained earnings Fixed assets $100,000 $ 400,000 Total liabilities and equity Total assets +e