Ch 04- End-of-Chapter Problems - Analysis of Financial Statements
Attempts
Average/9
1. Problem 4.22 (Balance Sheet Analysis)
eBook
Complete the balance sheet and sales information using the following financial data:
Total assets turnover: 1x
Days sales outstanding: 36.5 days*
Inventory turnover ratio: 3.75x
Fixed assets turnover: 3.0x
Current ratio: 2.0x
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 15%
*Calculation 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
$360,000
Current liabilities
Long-term debt
Common stock
Retained earnings
Total liabilities and equity
Cost of goods sold
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$
$
$
72,000
108,000
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