The Following Information Is from the Annual Financial Statements of Duke

question 6

Essay

The following information is from the annual financial statements of Duke Company.
$\begin{array}{lrrr}&2011&2010&2009\\\text { Net Sales } & \$ 385,000 & \$ 308,000 & \$ 255,000 \\\text { Accounts Receivable, net (year-end) } & 57,500 & 54,000 & 44,700\end{array}$
Calculate the accounts receivable turnover ratio for 2010 and 2011.

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Definitions:

Genitals

The external organs of reproduction in humans and animals.

Libido

In psychoanalytic theory, a term used to describe sexual drive or desire, considered as a primary instinctual force.

Psychosocial Drives

Motivations influenced by social interactions and psychological factors, such as the need for approval, status, or belonging.

Life Forces

The inherent energies or vital principles believed to animate living beings.