Answer Happy

AR (account receivable) for XYZ in 2020 was Below is the information of XYZ in December 2020. Please use it to answer the questions below: Cash $7,000 AP $8,000.00 AR Notes payable Inventory Accruals $1,500.00 Total CA Total current liabilities Net fixed assets $35,000 Long-term debt Total assets total debt Stockholders' equity Total liabilities & SE Information 1. Sales totaled 200,000 2 The gross profit margin 20% 3. Inventory turnover 2 4. There are 360 days in a year 5. The average collection period was 50 days 6. The current ratio 3 7. The total asset turnover 1.33 8. The debt ratio 45.00% $27.778 $36,667 $32,448 O $ 9,167