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1. Consider the following financial statement information for Kirkwood United. Item Year 1 Year 2 Year 3 Inventory $10,700 $10,300 $9,900 Accounts receivable $6,500 $7,300
1. Consider the following financial statement information for Kirkwood United. Item Year 1 Year 2 Year 3 Inventory $10,700 $10,300 $9,900 Accounts receivable $6,500 $7,300 $8,100 Accounts payable $8,200 $6,200 $4,200 Net sales $140,000 Cost of goods sold $80,000 Assume all sales are on credit. How long is the cash cycle? 66.03 days 33.25 days 46.99 days 37.74 days 55.47 days
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