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BA350 Financial Management
Q3-11 Balance Sheet Analysis
Complete the balance sheet and sales information in the table that follows for Hoffmeister Industries using the following financial data:
Debt ratio: 50%
Quick ratio: 0.80
Total assets turnover: 1.5
Day’s sales outstanding: 36.5 days
Gross profit margin on sales: (Sales – Cost of goods sold)/Sales = 25%
Inventory turnover ratio: 5.0
Calculation is based on a 365-day year.
Total Assets $300,000
Long-term Debt 60,000
Retained Earnings 97,500
Total liabilities and equity__________
Cost of Goods Sold_________________