Question: The following balance sheet information was provided by Bridgewater Company: Assets Cash 2023 2022 $5,200 $4,800 Accounts receivable $34,600 $31,200 Inventory $62,500 $58,000 Assuming 2023 net credit sales totaled $217,000, what were the company's average days to collect receivables?

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A: Step 1: Definition of Gross MarginGross Margin is the difference between net sales and the cost of…

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A: Step 1: DefinitionsConcept of Variable Cost:Variable cost refers to expenses that fluctuate in…

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A: Step 1: Definition of Cash BalanceA company's cash balance represents the amount of liquid cash…

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A: Step 1: Define Profit Margin RatioProfit margin ratio measures how much net income a company earns…

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A: Concept of Price-Sales RatioThe price-sales (P/S) ratio is a financial metric that compares a…

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A: Step 1: Define Degree of Operating Leverage (DOL)Degree of Operating Leverage (DOL) measures the…

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A: Explanation of Gross Profit Margin: Gross profit margin is a financial ratio that measures the…

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A: Step 1: Define COGS (Cost of Goods Sold)Cost of Goods Sold (COGS) refers to the direct costs…

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A: Step 1: Definition of Section 1231 Gain or LossSection 1231 of the Internal Revenue Code governs the…

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A: Given:Initial stock price = $5.00Ending stock price = $6.75Dividend paid = $0.40 per sharea)…

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A: Step 1: Definition of Total AssetsTotal assets refer to the sum of all assets owned by a company,…

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A: Explanation of Assets:Assets are resources owned by a company that are expected to bring future…

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A: Step 1: Define Cash Flow from Operating ActivitiesCash Flow from Operating Activities represents the…

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A: Step 1: Define Price-to-Earnings (P/E) RatioThe Price-to-Earnings (P/E) ratio is a valuation metric…

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A: Note:     Hello, student. I sincerely hope I was able to answer your question. If you have any more…

Q: What is the ending inventory?

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A: Step 1: Definition of Absorption CostingAbsorption costing, also known as full costing, is a method…

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A: Step 1: Definition of Net Income GrowthNet Income Growth represents the increase in a company's net…

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A: Provided Data:Initial Investment = $482,000Future Cash Inflow (after 1 year) = $615,000Cost of…

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A: Step 1: Definition of Direct Materials Quantity VarianceDirect Materials Quantity Variance (also…

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A: Step 1: Definition of RatiosRatios in accounting and finance are quantitative tools used to evaluate…

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A: Step 1: Definition of Break-even Sales in DollarsBreak-even sales in dollars represent the amount of…

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A: Step 1: Definition of Budgeted Ending InventoryBudgeted Ending Inventory refers to the estimated…

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A: Step 1: Define Variable CostingVariable costing is a costing method that includes only variable…

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A: Step 1: Definition of Accounting EquationThe Accounting Equation is the foundation of double-entry…

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A: Step 1: Define Discounted Payback PeriodThe Discounted Payback Period is the time it takes for a…

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A: Step 1: Definition of Unit Product CostUnit product cost is the total cost incurred to produce one…

Q: Fred needs $65,000 after tax in retirement income. If his expected average tax rate will be 21% and…

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A: Step 1: Definition of Inventory Days of Supply (DOS)Inventory Days of Supply (DOS) indicates how…

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A: Step 1: Define Actual Return on Pension AssetsThe actual return on pension assets is the total…

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A: Step 1: Definition of Coupon RateThe coupon rate of a bond is the annual interest rate paid by the…

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A: Step 1: Definition of Capital GainCapital gain is the profit earned when an asset, such as a stock,…

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