Company X has net sales revenue of $616,000, cost of goods sold of $361,000, and all other expenses of $99,000. If interest expense is $10,900 and income tax expense is $1,900, the times interest earned ratio is closest to

a. 15.49 b. 14.49 c. 0.01 d. 15.31

During the current accounting period, revenue from credit sales is $801,000. The accounts receivable balance is $52,780 at the beginning of the period and $65,200 at the end of the period. Which of the following statements is true?

a. On average, the company sells its inventory every 26.98 days. b. The receivables turnover ratio is 27.0. c. The receivables turnover ratio is 13.6. d. On average, it takes 13.6 days to collect payment from credit customers.