Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.5x
Days sales outstanding: 41 daysa
Inventory turnover ratio: 7x
Fixed assets turnover: 3.5x
Current ratio: 1.7x
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20%
a Calculation is based on a 365-day year. Round your answer to the nearest cent.
Balance Sheet
Cash $ Current liabilities $
Accounts receivable$ Long-term debt 50,000
Inventories $ Common stock $
Fixed assets $ Retained earnings 50,000
Total assets $200,000 Total liabilities and equity $
Sales $ Cost of goods sold

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