Presented Below Are Selected Data from the Financial Statements of Medtech

question 114

Essay

Presented below are selected data from the financial statements of Medtech Company for several years.
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$\begin{array}{lrrr}&2019&2018&2017\\\text { Total assets } & \$ 487,500 & \$ 615,750 & \$ 600,000 \\\text { Net credit sales } & 600,000 & 487,500 & 540,000 \\\text { Accounts receivable } & 63,750 & 60,000 & 55,500 \\\text { Net income } & 11,250 & 65,000 & 9,000\end{array}$ ​
A) Calculate Medtech's accounts receivable turnover ratio for 2019 and 2018 .
B) What could have caused the change? Explain.

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Definitions:

Weekend

The period from Friday evening through Sunday evening, specifically considered a time for leisure and rest from the workweek.

Original Bundle

In economics, this term refers to a specific combination of goods held by a consumer before any changes in constraints, such as budget or prices.

Price Of X

Refers to the monetary value or cost required to purchase a specific good or service denoted as "X".

Price Of Y

The cost at which a particular good, referred to as "Y" in economic models, is sold or purchased in the market.