Reference no: EM13371782
Selected balances from a company's financial statements are shown below. Calculate the following
(a) accounts receivable turnover
(b) inventory turnover
(c) days' sales uncollected
(d) days' sales in inventory
(e) profit margin.
(f) return on total assets.
Accounts Receivable ....................... 27,000 $24,000
Merchandise inventory..................... 25,000 20,000
Total Assets.................................. 296,000 244,000
Accounts Payable........................... 26,000 32,000
Salaries Payable............................. 3,000 4,400
Sales (all on credit)........................... $312,000
Cost of goods sold........................... 165,600
Salaries expense............................. 48,000
Other expenses.............................. 75,000
Net Income................................... 24,000"