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Question
Comparative calendar-year financial data for a company are shown below:
| 2014 | 2013 | |
| Sales | $ 720,000 | $ 607,500 |
| Cost of goods sold | 450,000 | 382,700 |
| Operating expenses | 168,500 | 134,900 |
| Net income | 51,200 | 51,700 |
| December 31, | December 31, | |
| 2014 | 2013 | |
| Accounts receivable (net | $ 157,500 | $162,500 |
| Inventory | 139,500 | 110,500 |
| Total assets | 1,012,500 | 944,800 |
Calculate:
(1) Accounts receivable turnover for 2014.
(2) Days' sales uncollected for 2014.
(3) Inventory turnover for 2014.
(4) Days' sales in inventory for 2014.
Answer
This answer is hidden. It contains 251 characters.
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