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Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 $ 29,500 $44,000 28,000 41,000 196,000 188,000 116,000 116,000 427,000 413,000 241,000 233,000 36,000 37,000 Accounts receivable Inventory Net sales (all credit) Cost of goods sold Total assets Total stockholders' equity Net income Stealth Company's 2021 receivables turnover ratio is: Multiple Choice 6.51 times. 5.33 times. 3.93 times. 14.47 times.

Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 $ 29,500 $44,000 28,000 41,000 196,000 188,000 116,000 116,000 427,000 413,000 241,000 233,000 36,000 37,000 Accounts receivable Inventory Net sales (all credit) Cost of goods sold Total assets Total stockholders' equity Net income Stealth Company's 2021 receivables turnover ratio is: Multiple Choice 6.51 times. 5.33 times. 3.93 times. 14.47 times.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 $ 29,500 $ 44,000 28,000 41,000 196,000 188,000 116,000 116,000 427,000 413,000 241,000 233,000 36,000 37,000 Accounts receivable Inventory Net sales (all credit) Cost of goods sold Total assets Total stockholders' equity Net income Stealth Company's 2021 receivables turnover ratio is: Multiple Choice 6.51 times. 5.33 times. 3.93 times. 14.47 times.
Transcribed Image Text:Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 $ 29,500 $ 44,000 28,000 41,000 196,000 188,000 116,000 116,000 427,000 413,000 241,000 233,000 36,000 37,000 Accounts receivable Inventory Net sales (all credit) Cost of goods sold Total assets Total stockholders' equity Net income Stealth Company's 2021 receivables turnover ratio is: Multiple Choice 6.51 times. 5.33 times. 3.93 times. 14.47 times.
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