Please explain how to solve the following:

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: 1.8

Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20%

Total liabilities-to-assets ratio: 50%

Quick ratio: 1.00

Days' sales outstanding (based on 365-day year): 36.5 days

Inventory turnover ratio: 3.75

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

Partial Income Statement Information

Sales $___________________

Cost of goods sold_______________

Balance Sheet

Assets Liabilities and Equity

Cash $______ Accounts payable $_______

Accounts receivable____ Long-term debt50,000

Inventories _____ Common stock_______

Fixed assets______ Retained earnings100,000

Total assets $400,000 Total liabilities and equity $_______