Adams Fumiture has a quick ratio of $2\mathrm{.}00x,$$$37,575$ in cash, $$20,875$ in accounts receivable, some inventory, total current assets of $$83,500,$ and total current liabilities of $$29,225.$ The company reported annual cost of goods sold of $$100,000$ in the most recent annual report.

Over the past year, how often did Adams Furniture sell and replace its inventory?

$8\mathrm{.}01$

$2\mathrm{.}86$

$4\mathrm{.}39$

$3\mathrm{.}99$

The inventory turnover ratio across companies in the fumiture industry is $3\mathrm{.}39x.$ Based on this information, which of the following statements is true for Adams Furniture?

Adams Furniture is holding more inventory per dollar of sales compared to the industry average.

Adams Furniture is holding less inventory per dollar of sales compared to the industry average.

You are analyzing two companies that manufacture electronic toys$-$Like Games Inc. and Our Play Inc. Like Games was launched eight years ago, whereas Our Play is a relatively new company that has been in operation for only the past two years, However, both companies have an equal market share with sales of $$100,000$ each. You've collected company data to compare Like Games and Our Play. Last year, the average sales for all industry competitors was $$255,000.$ As an analyst, you want to make comments on the expected performance of these two companies in the coming year: You've collected data from the companies' financial statements. This information is listed as follows: $($Note: Assume there are $365$ days in a year.$)$

$\backslash$table$[[,$Data Collected $($in dollars$),$Industry Average$],[,$Like Games,Our Play$],[$Accounts receivable,$2,700,3,900,3,850],[$Net fixed assets,$55,000,80,000,216,750],[$Total assets,$95,000,125,000,234,600]]$

Using this information, complete the following statements to include in your analysis.

A days of sales outstanding represents an efficient credit and collection policy. Between the two companies is collecting cash from its customers faster than $,$ but both companies are collecting their receivables less quickly than the industry average.

Our Play's fixed assets tumover ratio is than that of Like Games. This could be because Our Play is a relatively new company, so the acquisition cost of its fixed assets is than the recorded cost of Like Games's net fixed assets.

Like Games's total assets turnover ratio is which is higher total assets tumover ratio indicates greater efficiency. than the industry's average total assets turnover ratio. In general, a