Problem 4-22 BALANCE SHEET ANALYSIS

Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.2x Days sales outstanding: 36.5 daysa Inventory turnover ratio: 3x Fixed assets turnover: 3x Current ratio: 2.5x 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 Long-term debt Common stock Retained earnings Total liabilities and equity 225,000 Cost of goods sold 45,000 67,500