Complete the balance sheet and sales information

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Reference no: EM131219667

Complete the balance sheet and sales information below for Iceberg Industries using the following financial data:

Debt ratio: 50% Quick Ratio: .80x Total Assets Turnover: 1.5x Days Sales Outstanding: 36.0 days Gross Profit Margin on Sales (Sales - Cost of Goods Sold)/Sales = 25% Inventory Turnover Ratio: 5.0x

Balance Sheet:

Cash:

Accounts Receivable:

Inventories:

Fixed Assets:

Total Assets $300,000

Accounts Payable:

Long Term Debt $60,000

Common Stock:

Retained Earnings $97,500

Total Liabilities and Equity:

Sales :

Cost of Goods Sold:

Reference no: EM131219667

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