Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.7 Gross profit margin on sales: (Sales -...

Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data:

Total assets turnover: 1.7
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25%
Total liabilities-to-assets ratio: 45%
Quick ratio: 1.00
Days' sales outstanding (based on 365-day year): 36.5 days
Inventory turnover ratio: 3.25

Do not round intermediate calculations. Round your answers to the nearest whole dollar.

Partial Income Statement Information
Sales	$
Cost of goods sold

Balance Sheet
Assets		Liabilities and Equity
Cash	$		Accounts payable	$
Accounts receivable			Long-term debt		50,000
Inventories			Common stock
Fixed assets			Retained earnings		100,000
Total assets	$	400,000	Total liabilities and equity	$

Jun 01, 2022

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Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.7 Gross profit margin on sales: (Sales -...

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