Problem 4-22 BALANCE SHEET ANALYSIS

Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.3x Days sales outstanding: 40 daysa Inventory turnover ratio: 5x Fixed assets turnover: 3.5x Current ratio: 2.1x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 30% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answer to the nearest cent.

Cash Accounts receivable Inventories Fixed assets Total assets Sales Balance Sheet Current liabilities 104761.9 Long-term debt 87,500 49863 Common stock 35238.1 Retained earnings 122,500 130000 $350,000 Total liabilities and equity 350000 455000 Cost of goods sold 318500 (V