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Canadian Bacon Inc, financial statements are presented in the table below. Based on the information in the table, calculate the firm's accounts receivable turnover ratio.
Canadian Bacon Inc, financial statements are presented in the table below. Based on the information in the table, calculate the firm's accounts receivable turnover ratio. Round the answers to two decimal places Balance Sheet December 31, 2014 $132,000 Accounts payable $399,000 Cash and marketable securities Accounts receivable Inventories $311,000 $512,000 Prepaid expenses $11,300 Total current assets $966,300 Gross fixed assets $2,104,000 Less: accumulated $398,000 depreciation Net fixed assets $1,706,000 Notes payable $98,500 Accrued expenses $89,300 Total current $586,800 liabilities Long-term debt $799,400 Par value and $298,000 paid-in-capital Retained Earnings $988,100 Common Equity 1,286,100 Total liabilities Canadian Bacon Inc, financial statements are presented in the table below. Based on the information in the table, calculate the firm's accounts receivable turnover ratio. Round the answers to two decimal places Balance Sheet December 31, 2014 $132,000 Accounts payable $399,000 Cash and marketable securities Accounts receivable Inventories $311,000 $512,000 Prepaid expenses $11,300 Total current assets $966,300 Gross fixed assets $2,104,000 Less: accumulated $398,000 depreciation Net fixed assets $1,706,000 Notes payable $98,500 Accrued expenses $89,300 Total current $586,800 liabilities Long-term debt $799,400 Par value and $298,000 paid-in-capital Retained Earnings $988,100 Common Equity 1,286,100 Total liabilities
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