Please help with balance sheet fill ins! How do I get the numbers for the different items on the balance sheet?

You have to walk through the ratios, one step at a time. Once you do, all the answers reveal themselves.

The formula for Asset Turnover is Revenue / Total Assets.

Total Assets = $300,000. Since the Asset Turnover rate is 1.5, Revenue = ($300,000 X 1.5) $450,000

The formula for Debt Ratio is Total Liabilities / Total Assets.

Total Assets = $300,000. Since the Debt Ratio os 0.50, Total Liabilities = ($300,000 X .50) $150,000

Since Total Liabilities = $150,000 and the only two liability accounts are Accounts Payable (the balance of which is unknown) and Long Term Debt of $60,000, you can solve for Accounts Payable.

Accounts payable = ($150,000 - $60,000) $90,000

Days Sales Outstanding = 36.5 days. The formula for that is Accounts Receivable Balance / Sales X 365

Since DSO = 36.5, then Accounts Receivable = 10% of the Sales. 10% of $450,000 = $45,000

Gross Profit Margin is 25%. Therefore Costs of Goods Sold = (.75 X $450,000) $337,500

The formula for Quick Ratio = (Cash + Accounts Receivable) / Current Liabilities. Since the ratio = .80, you use this to calculate the total amount of cash and A/R. Since you've previously determined that current liabilities = $90,000, the total of cash and A/R = ($90,000 X .80) $72,000

Since you know that A/R = $45,000, then Cash = ($72,000 - $45,000) $27,000

The only kicker here is that the formula for Inventory Turnover is Costs of Goods Sold / Average Inventory. Since they don't tell us the figure for beginning inventory (so we can use this to calculate the ending inventory) we have to assume that we should just use ending inventory in the calculation. But see my last comment below also, since some books use a different formula for Inventory Turnover.

Since the Inventory Turnover Ratio is 5.0, the inventory balance = ($337,500 / 5) $67,500

Since you now have all of the other asset accounts identified, you can calculate the Fixed Asset balance. It is ($300,000 - $27,000, - $45,000 - $67,500) $169,500

Since Total Assets = $300,000 then Total Liabilities and Equity must also equal $300,000. Since you have now identified the balance of all the other liability and equity accounts, you can now calculate the balance of Common Stock. This number = ($300,000 - $150,000 - $97,500) $52,500

You have now filled in all the missing amounts. See my numbers shown below.

The only other issue here is that some books use a different formula for the inventory turnover ratio. Some use the formula of Sales / Inventory. You should check your book. If it uses this formula, then the Inventory Balance will be ($450,000 / 5) $90,000 instead of $67,500, and the Fixed Asset Balance will therefore be ($300,000 - $27,000 - $45,000 - $90,000) $138,000

Again, check your book to see how they calculate the Inventory Turnover Ratio

Here's the Balance Sheet with the missing numbers shown:

Cash $? $27,000

Accounts Receivables $? $45,000

Inventories $? $67,500 (or $90,000)

Fixed Assets $? $169,500 (or $138,000)

Total assets $300,000

Accounts Payable $? $90,000

Long-term debt $60,000

Total liabilities $? $150,000

Common stock $? $52,500

Retained earnings $97,500

Total Liabilities and Equity $300,000

Sales $? $450,000

Cost of goods sold $? $337,500

1

cash $32720, account payable $120000

market securities 25000, notes payable?

Hope this helps!