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Income statement of anderson medical supply company

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Reference no: EM13883104

1.The 2013 income statement of Anderson Medical Supply Company reported net sales of $8 million, cost of goods sold of $4.8 million, and net income of $800,000. The following table shows the company's comparative balance sheets for 2013 and 2012:

1654_270-B-A-F-A (1122).png

Some industry averages for Anderson's line of business are
Inventory turnover 5 times
Average collection period 25 days
Asset turnover 1.8 times

Required:
Assess Anderson's asset management relative to itsindustry. 

Reference no: EM13883104

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