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

question 143

Essay

Comparative calendar-year financial data for a company are shown below:
$\begin{array}{|l|r|r|}\hline&2011&2010\\\hline \text { Sales } & \$ 720,000 & \$ 607,500 \\\hline \text { Cost of goods sold } & 450,000 & 382,700 \\\hline \text { Operating expenses } & 168,500 & 134,900 \\\hline \text { Net income } & 51,200 & 51,700\\\hline\\\hline&\text { December } 31&\text { December } 31\\\hline&2011&2010\\\hline\text { Accounts receivable (net } & \$ 157,500 & \$ 162,500 \\\hline \text { Inventory } & 139,500 & 110,500 \\\hline \text { Total assets } & 1,012,500 & 944,800\\\hline\end{array}$
Calculate:
(1)Accounts receivable turnover for 2011.
(2)Days' sales uncollected for 2011.
(3)Inventory turnover for 2011.
(4)Days' sales in inventory for 2011.

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Definitions:

Observation

The action or process of closely monitoring or watching someone or something to gather information.

Assessment Instruments

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Semantic Differential

A type of scale used for measuring the meaning of things and concepts, involving a range of values between two opposites.

Rating Scale

A tool or method for assigning a value to a variable or characteristic, typically in the form of a survey or questionnaire that measures intensity, frequency, satisfaction, or agreement.