13. Calculate the accounts receivable turnover and the number of days' sales in accounts receivable (based on a 365-day year) for the year ended ______________________, 20__.

14. Based on your analysis above, do you believe that the company is doing an effective job at managing accounts receivable? What would you estimate the industry averages to be for accounts receivable turnover and the number of days' sales in accounts receivable? Explain.

15. Calculate the inventory turnover and the number of days' sales in inventory (based on a 365-day year) for the year ended _____________________, 20__.

16. Based on your analysis above, to what extent does the company need to be concerned about its inventory management policies? In assessing inventory management policies, would you be more interested in knowing current ratio or acid-test ratio information? Explain.

Consolidated Statements of Operations Consolidated Statements of Financial Position Consolidated Statements of Cash Flows Changes in operating accounts: C--alidatand Statemants of Shareholders' Investment