Problem Walk-Through BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.3x Days sales outstanding: 42.5 daysa Inventory turnover ratio: 4x Fixed assets turnover: 2.5x Current ratio: 2.5x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 15% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answer to the nearest cent. Balance Sheet Current liabilities Cash $ 70,000 Accounts receivable Inventories Fixed assets Total assets Long-term debt Common stock Retained earnings Total liabilities and equity 105,000 $350,000 $ Sales Cost of goods sold