The following information in the table is available for Oakland Company. 2014 2013 Accounts receivable $430,000 $460,000 Inventory $280,000 $320,000 Net credit sales $2,670,000 $1,600,000 Cost of goods sold $1,860,000 $1,060,000 Net income $300,000 $170,000 The accounts receivable turnover for 2014 is: ⚫ (a) 5.8 times ⚫ (b) 6.2 times ⚫ (c) 6.0 times ⚫ (d) 1.4 times

The following information in the table is available for Oakland Company. 2014 2013 Accounts receivable $430,000 $460,000 Inventory $280,000 $320,000 Net credit sales $2,670,000 $1,600,000 Cost of goods sold $1,860,000 $1,060,000 Net income $300,000 $170,000 The accounts receivable turnover for 2014 is: ⚫ (a) 5.8 times ⚫ (b) 6.2 times ⚫ (c) 6.0 times ⚫ (d) 1.4 times

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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