Reference no: EM131718985

Question - The following financial information is for Alpha Corporation are for the fiscal years ending 2017 & 2016 (all balances are normal):

Item/Account 2017 2016

Cash $26,000 $16,000

Accounts Receivable 40,000 50,000

Inventory 30,000 22,000

Current Liabilities 76,000 42,000

Net Sales (all credit) 390,000 360,000

Cost of Goods Sold 260,000 250,000

Use this information to determine for FY 2017: (Round & enter your answers to one decimal place and enter the value.)

1. The Accounts Receivable turnover ratio

2. Average Accounts Receivable collection period

3. Gross Profit Margin