1. Ittakes The Crossroads Boutique an average of 30 days to collect its accounts receivable. The firn has sales 2. Phil's Hardware sells its inventory in 75 days on average. Costs of goods sold for the year are $631,800. What 3. Goshen Industrial Sales has sales of $828,900, total equity of $539,200, a profit margin of 4.6 percent, and a 4. Which one of the following actions will increase the current ratio, all else constant? Assume the current ratio of $568,700. What is the accounts receivable turnover ratio? What is the accounts receivable balance? is the average balance of the firm's inventory? debt equity ratio of 0.55. What is the return on assets? is greater than 1.0 A) Cash purchase of inventory B) Cash payment of an account receivable C) Cash payment of an account payable D) Credit sale of inventory at cost E) Cash sale of inventory at a loss