Its accounts receivable balance averaged

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Reference no: EM132042544

1. The Manana Corporation had asalers of $58.7 million this year. Its accounts receivable balance averaged $3.6 million. How long on average, does it take the firm to collect on its sales? (Hint: Using 365 days for a year.)

The collection period is ____days (Round to one decimal place.)

2. All else held constant, which one of the following will decrease if a firm increases its net income?

Return on assets

Price-earnings ratio

Return on equity

Price-sales ratio

Profit margin

Reference no: EM132042544

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