The Following Current Year Information Is Available from a Manufacturing

question 78

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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Definitions:

Unipolar Depression

A major depressive disorder characterized by a persistent feeling of sadness or a lack of interest in external stimuli, differing from bipolar disorder by the absence of manic or hypomanic episodes.

Dysthymic Symptoms

long-term, chronic symptoms of depression that are less severe than major depressive disorder.

Mania

A mental state characterized by extreme energy, euphoria, hyperactivity, and a reduced need for sleep, often seen in bipolar disorder.

Hypomania

A milder form of mania, characterized by elevated or irritable mood, increased activity or energy levels, but not severe enough to cause significant impairment.