Question1. Balance Sheet Analysis Complete the balance sheet and sales information by using the following financial data:
a) Debt-to-assets ratio: 55%
b) Current ratio: 2.9 xs
c) Total assets turnover: 1.7 xs
d) Days sales outstanding:
e) 32 days’ Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20%
f) Inventory turnover ratio: 3 xs
g) Calculation is based on a 365-day year.
h) Balance Sheet Cash $ Accounts payable $ Accounts receivable $
i) Long-term debt 46,000
j) Inventories $
k) Common stock $
l) Fixed assets $
m) Retained earnings 64,000
n) Total assets $200,000
o) Total liabilities and equity $
p) Sales $
q) Cost of goods sold $