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Comparative financial statement data of Panfield Optica Mart follow: Data Table Panfield Optical Mart Comparative Balance Sheets December 31, 2018 and 2017 2017 2016* 2018
Comparative financial statement data of Panfield Optica Mart follow:
Data Table Panfield Optical Mart Comparative Balance Sheets December 31, 2018 and 2017 2017 2016* 2018 Current assets: $ 41,000 $ 43,000 Cash Current receivables, net Inventories Prepaid expenses 154,000 $ 138,000 215,000 294,000 289,000 182,000 6,000 27,000 556,000 513,000 284,000 274,000 $840,000 $ 787,000 Total current assets Property, plant, and equipment, net Total assets $ 170,000 $ 100,000 112,000 Accounts payable 124,000 182,000 Other current liabilties Print Done nt Other information: 1. Market price of Panfield Optical Mart common stock: $65.79 at December 31, Comparative financial statement data of Panfield Optical Mart follow: EB (Click on the icon to view the income statements.) Click on the icon to view the balance sheets.) Read the requirements 2018, and $63.00 at December 31, 2017 2. Common shares outstanding: 13,000 during 2018 and 11,000 during 2017 3. All sales on credit 4. Cash dividends paid per share: $1.50 in 2018 and $1.00 in 2017 c. Receivables turnover and days' sales oustanding (DSO-round to the nearest whole day Begin by selecting the formula and then enter the amounts to calculate receivables turnover for 2018 and 2017. (Round the ratios to two decimal places, X.Xx) Accounts receivable turnover 2018 2017 Now select the formula and enter the amounts to calculate days' sales oustanding (DSO) (round to the nearest whole day). (Enter formula ratios to two decimal places .XX. Use a 365-day year and round the DSO to the nearest whole day. .) -Days' sales outstanding (DSO) 2018 2017Step by Step Solution
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