Pulaski Technical College Operations And Supply Chain Management Assignment Help - ratio equations

Question - (3-11) Complete the balance
sheet and sales information
in the table that follows for
J. White

Industries using the
following financial data:
Total
assets
turnover:
1.5

Gross profit margin on sales:
(Sales %u2013 Cost of
goods sold)/Sales = 25%
Total
liabilities-
to-assets
ratio: 40%

Quick
ratio: 0.80
Days sales outstanding
(based on 365-day year):
36.5 days
Inventory
turnover
ratio: 3.75
Partial Income Statement
Information Calculations
Sales 600,000
Cost of
goods sold 450,000
Sale
s
Total Asset Turnover ratio = Sales/Total
Assets
Balance
Sheet
1.5 =
Sales/400,000
Cash
_______
Accounts ...Read More
payable
______
60000
0
Accounts
receivable
60,000Long-
term debt 50,000
Inventorie
s
120,000Commo
n stock ______
Cost of
Goods Sold
Sales - Cost of Goods
Sold)/Sales = 25%

Fixed
assets
_______
Retained
earnings
100,00
0
(600,000-COGS)/600000 =
25%
Total
assets
$400,000 Total
liabilities and
equ
400,00
0 600000-COGS = 150000
600000-150000 = COGS
450000
The bold I
calculated.
The
blanks I
have to fill
in.

Inventories Inventory turnover ration =
COGS/Inventories
3.75 = 450000/Inventories
120000

Accounts
Receivable
DSO =
Receivables/(Annual
sales/365)

36.5 =
receivables/(600,000/36
5
60000 ...Read Less

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