TCS Ltd. has a net income of $215,000, a profit margin of 9.2%, and an accounts. receivable balance of $132,500. Assuming 75% of sales are on credit, what are the company's days' sales in receivables? (Round your answer to whole number if needed) A. 20 days B. 22 days C. 28 days D. 35 days

TCS Ltd. has a net income of $215,000, a profit margin of 9.2%, and an accounts. receivable balance of $132,500. Assuming 75% of sales are on credit, what are the company's days' sales in receivables? (Round your answer to whole number if needed) A. 20 days B. 22 days C. 28 days D. 35 days

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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Question

4 POINTS

TCS Ltd. has a net income of $215,000, a
profit margin of 9.2%, and an accounts.
receivable balance of $132,500. Assuming
75% of sales are on credit, what are the
company's days' sales in receivables? (Round
your answer to whole number if needed)
A. 20 days B. 22 days C. 28 days D. 35 days

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