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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Complete the balance sheet and sales information using the following financial data:
Total assets turnover: 1.5x
Days sales outstanding: 32 days
Inventory turnover ratio: 6x
Fixed assets turnover: 3.5x
Current ratio: 2.3x
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 35%
aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answer to the nearest cent.
Balance Sheet | ||||
 |  |  |  |  |
Cash | $ | Â | Current liabilities | $ |
Accounts receivable | Â | Â | Long-term debt | 80,000 |
Inventories | Â | Â | Common stock | Â |
Fixed assets | Â | Â | Retained earnings | 100,000 |
Total assets | $400,000 | Â | Total liabilities and equity | $ |
Sales | $ | Â | Cost of goods sold | $ |
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