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The company has a net income of $179,000, a profit margin of 8.3 percent, and an accounts receivable balance of $118,370. Assuming 70 percent of sales are on credit, what are the company's days' sales in receivables?

The company has a net income of $179,000, a profit margin of 8.3 percent, and an accounts receivable balance of $118,370. Assuming 70 percent of sales are on credit, what are the company's days' sales in receivables?

Managerial Accounting: The Cornerstone of Business Decision-Making
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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The company has a net income of $179,000, a profit margin of 8.3 percent, and an accounts receivable balance of $118,370. Assuming 70 percent of sales are on credit, what are the company's days' sales in receivables?
Transcribed Image Text:The company has a net income of $179,000, a profit margin of 8.3 percent, and an accounts receivable balance of $118,370. Assuming 70 percent of sales are on credit, what are the company's days' sales in receivables?
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