Presented Below Are Selected Data from the Financial Statements of Hospital

question 147

Essay

Presented below are selected data from the financial statements of Hospital Supply Company for 2019,2018,and 2017.
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$\begin{array}{lrrr}&2018&2017&2013\\\text { Total assets } & \$ 650,000 & \$ 821,000 & \$ 800,000 \\\text { Net credit sales } & 800,000 & 650,000 & 720,000 \\\text { Accounts receivable } & 85,000 & 79,000 & 74,000 \\\text { Accounts receivable turnover ratio } & 9.8 \text { times } & 8.5 \text { times } & 8.0 \text { times }\end{array}$ ​
A) Calcul ate Hospital Supply's number of days' sales in receivables for 2019 and 2018. Assume 360 days in a year.
B) What is the meaning of your answer in part (A)?

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Definitions:

Nature and Nurture

Refers to the debate concerning the relative importance of an individual's innate qualities versus personal experiences in determining or causing individual differences in physical and behavioral traits.

Behavior and Mental Processes

Aspects of psychology that pertain to observable actions (behavior) and internal experiences such as thoughts and emotions (mental processes).

Stability and Change

The concept of how certain aspects of physical, cognitive, social, and emotional development remain stable over time, whereas others change.

Developmental Psychologists

Professionals who study the psychological growth and development that occurs throughout a lifespan.