A. The accounts receivable turnover for 2017 is Blank 1

1) 4.5 times

2) 8.8 times

3) 9.0 times

4) 9.3 times

B. The average collection period for 2017 is Blank 2. If the industry average is 30 days, interpret the result compared to industry average.

1) 40.56 days; worse

2) 40.56 days; better

3) 41.48 days; worse

4) 41.48 days; better

Use the following information below: Account receivable Inventory Net credit sales Cost of goods sold Net income 2017 360,000 280,000 3,150,000 1,800,000 300,000 2016 340,000 320,000 2,600,000 40,000 170,000