Find company average collection period

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Reference no: EM1364627

80. Crasler Company's net income last year was $100,000. The company paid preferred dividends of $20,000 and its average common stockholders' equity was $580,000. The company's return on common stockholders' equity for the year was closest to:
A) 13.8%. C) 20.7%.
B) 3.4%. D) 17.2%.

83. Grave Company had $150,000 in sales on account last year. The beginning accounts receivable balance was $14,000 and the ending accounts receivable balance was $10,000. The company's average collection period (age of receivables) was closest to:
A) 24.33 days. C) 34.07 days.
B) 58.40 days. D) 29.20 days.

Reference no: EM1364627

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