Complete the balance sheet and sales information using the following financial data:Total assets turnover: 1.7xDays sales outstanding: 42.5 daysa Inventory turnover ratio: 7xFixed assets turnover: 3.5xCurrent ratio: 2xGross profit margin on sales: (Sales – Cost of goods sold)/Sales = 25?alculation is based on a 365-day year. Do not round intermediate calculations. Round your answer to the nearest cent..727px;=””>Balance SheetCash$ Current liabilities$ Accounts receivable Long-term debt56 250Inventories Common stock Fixed assets Retained earnings78 750Total assets$225 000Total liabilities and equity$ Sales$ Cost of goods sold$
