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How many days is the average collection period ahd what is the current ratio?

How many days is the average collection period ahd what is the current ratio?

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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How many days is the average collection period ahd what is the current ratio?

For Questions 28 - 30 On December 31 of the current year, a company's record shows the following information: Cash Accounts Receivable Inventories Net Fixed Assets Accounts Payable Other current liabilities Long-term debt Common Equity Sales Revenue. Cost of goods sold Operating expenses Interest Expense Income Tax P 775,000 3,360,000 2,415,000 2,925,000 2,130,000 1,170,000 2,560,000 3,615,000 16,075,000 13,925,000 1,450,000 245,000 182.000 Determine the following financial ratios. Round off answer up to 2 decimals. Incorrect rounding will be marked wrong.
Transcribed Image Text:For Questions 28 - 30 On December 31 of the current year, a company's record shows the following information: Cash Accounts Receivable Inventories Net Fixed Assets Accounts Payable Other current liabilities Long-term debt Common Equity Sales Revenue. Cost of goods sold Operating expenses Interest Expense Income Tax P 775,000 3,360,000 2,415,000 2,925,000 2,130,000 1,170,000 2,560,000 3,615,000 16,075,000 13,925,000 1,450,000 245,000 182.000 Determine the following financial ratios. Round off answer up to 2 decimals. Incorrect rounding will be marked wrong.
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