Complete the balance sheet and sales information in the table that follows for J. White Industries using the
following financial data:
Total assets turnover: 2.9
Gross profit margin on sales: (Sales – Cost of goods sold)/Sales = 25%
Total liabilities-to-assets ratio: 55%
Quick ratio: 1.05
Days sales outstanding (based on 365-day year): 34 days
Inventory turnover ratio: 4.0I then have the following numbers:
Sales: $1,160,000
Cost of Goods Sold: $870,000
Accounts Receivable: $108,052
Inventory: $217,500
Total Assets: $400,000
Long Term Debt: $50,000
Total Liabilities and Equity: $100,000I have to fill in:
Cash:
Fixed Assets:
Accounts Payable:
Common Stock:
Total Liabilities and Equity: