Consider the following financial data for J. White Industries: Total assets turnover: 2.7 Gross profit margin on sales: (Sales- Cost of goods sold)/Sales - 26% Total liabilities-to-assets ratio: 55% Quick ratio: 0.95 Day's sales outstanding (based on 365-day year): 28 days Inventory turnover ratio: 7.0 4 The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. mmm Open spreadsheet Complete the balance sheet and sales information in the table that follows for J. White Industries. Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Sales Cost of goods sold Balance Sheet Cash Accounts receivable Inventories Fixed assets Total assets $ $ $ Statement Information $ $ $ $400,000 Accounts payable Long-term debt Common stock Retained earnings Total liabilities and equity $ $ 50,000 $ $ 100,000 $

Consider the following financial data for J. White Industries: Total assets turnover: 2.7 Gross profit margin on sales: (Sales- Cost of goods sold)/Sales - 26% Total liabilities-to-assets ratio: 55% Quick ratio: 0.95 Day's sales outstanding (based on 365-day year): 28 days Inventory turnover ratio: 7.0 4 The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. mmm Open spreadsheet Complete the balance sheet and sales information in the table that follows for J. White Industries. Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Sales Cost of goods sold Balance Sheet Cash Accounts receivable Inventories Fixed assets Total assets $ $ $ Statement Information $ $ $ $400,000 Accounts payable Long-term debt Common stock Retained earnings Total liabilities and equity $ $ 50,000 $ $ 100,000 $

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 56P: The following selected information is taken from the financial statements of Arnn Company for its...

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