Question 6

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: 2.7 Gross prot margin on sales: (Sales - Cost of goods sold)/Sa|es = 23% Total liabilities-to-assets ratio: 40% Quick ratio: 1.15 Days sales outstanding (based on 365-day year): 33 days Inventory turnover ratio: 5.0 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales 3; Cost of goods sold $ Balance Sheet Cash $ Accounts payable $ Accounts receivable Long-term debt 50,000 Inventories Common stock Fixed assets Retained earnings 100,000 Total assets $ 400,000 Total liabilities and equity $