Question

Balance Sheet Analysis

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 = 27%
Total liabilities-to-assets ratio: 55%
Quick ratio: 0.75
Days sales outstanding (based on 365-day year): 33 days
Inventory turnover ratio: 6.0

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

Partial Income	Statement Information
Sales	$
Cost of goods sold	$

Balance Sheet

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	$

Answer 1

Parctial Income 5tatemerd nforamalion 5ales Coal afgonda solal Balance 5heel Cash Arcosaheavable 9.A anledet50.000 fovendomies fexed Assess1897667Relained farnings A00.000 Total Asses$ 100.000 Totalli 00.000 80.000 hh00.s5 Accouns payahle170.00o 133, 33 Cammon Slock 80000 Paplanations SalesTotal auck lennover toda 4ck C1.7 00,000) 6 S0,000 CAns) Gireo pe fed mangen On sales Salo - Codofgoods sol Sales 680,000- COGS a7/ $680.000 0.a7 x680.000) - (60,000- CcOGS) 680.000-COGS 83600 183600 $680.000 COGS 496400 CAru)

Days sales outtandling Accounds Recevable Sales /365 Acroundh Resivabh 33 days 680,000/365 Account Receivabl 33 1863.01 33 days XI 863.0d f 6d 474.45 (Ars.) Accounh Recaivetle Accoun t Recovable Tola Lrabelfesto-ascs tcafo Tolal Liabellies Tolal assets Total liablifies55.X$ A00,000 Tolalabelitiu a 20.000 CAns. ) Tnvendonyfornor er COGS Invendonies 496400 Tavenordes Tnvendonies 496400 6.0 S2733.33 CAnu.)

t Account Payable - Tolal Long ieb a20,000 50,000 170,000 CAnu) Account Qurtk Ratro Casht Cornen Recaiveblh Accounds Cash t 63471 45 § 170,000 0.75 XFi70,000 Casht61479.45 Cash t61419.4 61479.4s /27500 f 66020.55 CAnu ) Connen a7500 5Cash Cash Frxed Asseds Todal Asset Acrcts $h00,000- 240 a33.33 18 9766.67 CUnrand AeCash tnendory Accaunk Reetaeht) CAns Common'stock Tola liahlhes Tolal Asick-Redaing. carninge 400,a00 o0.000 w a0,000 80.000 (An.)