A Fiscal analyst has the following information:

Pretax return on assets	10%
Total debt to total assets	65%	equity = 35%
AR collection period	65	days
Pretax return on sales	15%
Total Assets	$ 3,600,000.00
Working Capital	$ 800,000.00

Determine:

a) AR balance in ($)

b) What is pretax return on shareholders' equity

Hints:

Problem	Ratio to use:	Solve for:
a)	ROA	Profit (aka Net Income, Earnings)
	ROS	Sales (aka Sales per day)
	AR Collection Period	AR (aka Accounts Recievable)	<-- Final Solution
b)	Owner's equity = equity % x Sales	Owner's Equity ($)
	ROE	ROE %	<-- Final Solution