Using the following financial data, complete the balance sheet and sales information. All calculations based on...

 

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Using the following financial data, complete the balance sheet and sales information. All calculations based on a 365 day year. The cells in grey should be filled in. Each cell is worth 2 points, 18 points total for this problem. Total assets turnover 1.7x Days sales outstanding 34.5 days 3.65x Inventory turnover ratio Fixed assets turnover 2.5x Current ratio 1.8x Gross profit margin on sales 27% Cash Accounts Receivable Inventories Fixed Assets Total Assets Sales $ 350,000 Balance Sheet Current Liabilities Long-term Debt Common Stock Retained Earnings Total Liabilities and Equity Cost of Goods Sold $ 80,000 $ 97,500 Using the following financial data, complete the balance sheet and sales information. All calculations based on a 365 day year. The cells in grey should be filled in. Each cell is worth 2 points, 18 points total for this problem. Total assets turnover 1.7x Days sales outstanding 34.5 days 3.65x Inventory turnover ratio Fixed assets turnover 2.5x Current ratio 1.8x Gross profit margin on sales 27% Cash Accounts Receivable Inventories Fixed Assets Total Assets Sales $ 350,000 Balance Sheet Current Liabilities Long-term Debt Common Stock Retained Earnings Total Liabilities and Equity Cost of Goods Sold $ 80,000 $ 97,500

Answer rating: 100% (QA)

Calculation of Missing Elements I Total Sales Total Assets Turnover Ratio Total Sales Total Assets T... View the full answer