The Following Current Year Information Is Available from a Manufacturing

question 75

Essay

The following current year information is available from a manufacturing company:
$\begin{array}{lr}\text { Sales } & \$ 740,000 \\\text { Gross profit on sales } & 276,000 \\\text { Operating income } & 64,000 \\\text { Income before taxes } & 44,000 \\\text { Net income } & 33,600 \\\text { Accounts Receivable, beginning-year } & 58,000 \\\text { Accounts Receivable, end-of-year } & 72,000\end{array}$ Calculate the company's accounts receivable turnover and its days' sales uncollected.

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Definitions:

Mononucleosis

An infectious disease, often called "mono," characterized by fever, sore throat, and swollen glands, commonly caused by the Epstein-Barr virus.

In-group

A social group to which a person psychologically identifies as being a member, often leading to favoritism toward group members and discrimination against non-members.

Primary Emotions

Basic emotions experienced by humans, such as happiness, sadness, fear, and anger, that are universal across cultures.

Secondary Emotions

Complex feelings that develop from primary emotions and involve a higher level of cognitive appraisal, such as guilt, shame, pride, and embarrassment.