Comparative calendar-year financial data for a company are shown below. Calculate the following ratios for the company for 2012:
(a) accounts receivable turnover
(b) day's sales uncollected
(c) inventory turnover
(d) days' sales in inventory
Definitions:
Appellate Court
An appellate court is a higher court that reviews the decisions of lower courts to ensure the correct application of the law.
Probate Court
A specialized court that deals with matters concerning the estate of deceased persons, including the distribution of assets and adjudication of wills.
Bankruptcy Court
A specialized federal court that deals with cases involving bankruptcy filings and related legal issues.
Federal Court Judges
Officials appointed to preside over cases within the United States federal court system, responsible for applying federal law.
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