Task: Comparative calendar-year financial data for a company are shown below:
|
|
2005
|
2004
|
|
Sales. .......................................................
|
S 720,000
|
$607,500
|
|
Cost of goods sold......................................
|
450,000
|
382,700
|
|
Operating expenses.....................................
|
168,500
|
134,900
|
|
Net income.....................................................................
|
51,200
|
51,700
|
|
|
December 31,
|
December 31,
|
|
|
2005
|
2004
|
|
Accounts receivable (net)...........................
|
$ 157,500
|
$162,500
|
|
Inventory .................................................
|
139,500
|
110,500
|
|
Total assets.................................................
|
1,012,500
|
944,800
|
Calculate:
(1) Accounts receivable turnover for 2008.
(2) Days' sales uncollected for 2008.
(3) Inventory turnover for 2008.
(4) Days' sales in inventory for 2008.