Answer Happy

4) Comparative calendar-year financial data for a company are shown below. Calculate the following ratios for the company for Year 2 using the information provided below. (a) accounts receivable turnover (b) day's sales uncollected (c) inventory turnover (d) days' sales in inventory Year 2 Year 1 Sales Cost of goods sold Operating expenses Net income $ 720,000 $ 607,500 450,000 382,700 168,500 134,900 51,200 51,700 December 31, Year December 31, 2 Year 1 $ 157,500 $ 162,500 139,500 110,500 1,012,500 944,800 Accounts receivable (net) Inventory Total assets