The initial analysis should include the following:The ratio equationThe calculation of the ratio using the equation and the pre-assigned Quick Study or Exercise from the textbook. Use the result in a sentence; i.e. For every dollar invested in assets the company is earning 22.4 cents or 22.4% in net income. Then explain whether this is a good result or a result that needs improving.Use citations to cite any outside sources used.The original post should include at least three (3) sentences but no more than seven (7) sentences. **Exercise 9-17 Accounts receivable turnover**The following information is from the annual financial statements of Raheem Company. (1) Compute its accounts receivable turnover for Year 2 and Year 3. (2) Assuming its competitor has a turnover of 11, is Raheem performing better or worse at collecting receivables than its competitor?| | Year 3 | Year 2 | Year 1 ||--------------|----------|----------|----------|| Net sales | $405,140 | $335,260 | $388,000 || Accounts receivable, net (year-end) | 44,800 | 41,400 | 34,800 |

The account receivables turnover ratio measures the efficiency of business to receive cash from its…

Exercise 9-17 Accounts receivable turnovere a10 The following information is from the annual financial statements of Raheem Company. (1) Compute it accounts receivable turnover for Year 2 and Year 3. (2) Assuming its competitor has a turnover of 11, is Raheem performing better or worse at collecting receivables than its competitor? Year 3 Year 2 Year 1 Net sales $405,140 $335,280 $388,000 Accounts receivable, net (year-end) 44,800 41,400 34,800

Exercise 9-17 Accounts receivable turnovere a10 The following information is from the annual financial statements of Raheem Company. (1) Compute it accounts receivable turnover for Year 2 and Year 3. (2) Assuming its competitor has a turnover of 11, is Raheem performing better or worse at collecting receivables than its competitor? Year 3 Year 2 Year 1 Net sales $405,140 $335,280 $388,000 Accounts receivable, net (year-end) 44,800 41,400 34,800

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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