Comparative Calendar-Year Financial Data for a Company Are Shown Below

question 159

Essay

Comparative calendar-year financial data for a company are shown below. Calculate the following ratios for the company for 2018:
(a) accounts receivable turnover
(b) day's sales uncollected
(c) inventory turnover
(d) days' sales in inventory
$$\begin{array} { l | l | l } & 2018 & 2017 \\\hline \text { Sales } & \$ 720,000 & \$ 607,500 \\\hline \text { Cost af goods sold } & 450,000 & 382,700 \\\hline \text { Operating expenses } & 168,500 & 134,900 \\\hline \text { Net income } & 51,200 & 51,700 \\\hline & & \\\hline & \text { December 31. } & \text { December 31. } \\\hline & 2018 & 2017 \\\hline \text { Accounts receivable (net) } & \$ 157,500 & \$ 162,500 \\\hline \text { Inventory } & 139,500 & 110,500 \\\hline \text { Total assets } & 1,012,500 & 944,800 \\\hline\end{array}$$

Recognize the importance of research design and methodology in experimental psychology.

Understand the significance and process of theory construction in science.

Grasp the importance and types of scientific documentation and publication in psychology.

Understand the scientific method's stages and the importance of reporting findings to the public.

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Definitions:

Schist

A shiny, foliated, metamorphic rock generally containing abundant visible crystals of mica.

Thrust Fault

A type of fault where the hanging wall moves up relative to the footwall, often associated with the compression of Earth's crust.

Normal Fault

A type of geological fault where the hanging wall has moved downward relative to the footwall, usually due to extensional forces.

Cleavage

In geology, the tendency of a mineral to break along flat, parallel surfaces determined by its crystal structure.