The Following Current Year Information Is Available from a Manufacturing

question 60

Essay

The following current year information is available from a manufacturing company:
$\begin{array}{|l|r|}\hline \text { Sales } & \$ 640,000 \\\hline \text { Gross profit on sales } & 276,000 \\\hline \text { Operating income } & 64,000 \\\hline \text { Income before taxes } & 44,000 \\\hline \text { Net income } & 33,600 \\\hline \text { Accounts receivable, beginning-year } & 58,000 \\\hline \text { Accounts receivable, end-of-year } & 70,000 \\\hline\end{array}$ Calculate the company's accounts receivable turnover and its days' sales uncollected.

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