balance sheet and sales information for Hoffmeister Industries

  

You are given the balance sheet and sales information for Hoffmeister Industries: CashAccounts payableAccounts receivableLong-term debt120,000InventoriesCommon stockFixed assetsRetained earnings195,000Total assets$600,000Total liabilities and equitySalesCost of Goods Sold (COGS) Debt ratio: 50% Quick ratio: 0.80 Total assets turnover: 1.5 DSO (Days sales outstanding): 36.5 (based on 365 days) Gross profit margin on sales (Sales COGS)/Sales = 25% Inventory turnover ratio: 5.08Total debt =250,000290,000420,000300,000None of the above9Accounts payable =180,000220,000230,000250,000None of the above10Common stock =100,000105,000110,000115,000None of the above11Sales =700,000750,000800,000900,000None of the above12Accounts receivable =70,00080,00085,00095,000None of the above13Inventory =a. 145,000b. 139,000c. 135,000d. 142,000e. None of the above14Cash + A/R =52,00054,00056,00057,000None of the above15Fixed assets =270,000276,000279,000280,000None of the above16The C.O.G.S. (cost of goods sold) =650,000660,000675,000690,000None of the above