Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.3x Days sales outstanding: 36.5 days Inventory turnover ratio: 3.75x Fixed assets turnover: 3.0x Current ratio: 2.5x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 15% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Cash Accounts receivable Inventories Fixed assets Total assets Sales $ Balance Sheet $360,000 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold $ $ $ 54,000 126,000
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.3x Days sales outstanding: 36.5 days Inventory turnover ratio: 3.75x Fixed assets turnover: 3.0x Current ratio: 2.5x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 15% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Cash Accounts receivable Inventories Fixed assets Total assets Sales $ Balance Sheet $360,000 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold $ $ $ 54,000 126,000
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 56P: The following selected information is taken from the financial statements of Arnn Company for its...
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