compute accounts receivable turnover

raded Practice Smed Help Current Yr 1 YEAR 2 Yrs ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 32,899 89,600 113,500 19,595 322,393 $568,992 $ 38,456 $40,467 62,99 51,500 82,500 52,000 10,095 4,496 296,559 268,637 $ 490,518 5 417,129 $ 138,845 $ 81,238 $ 53,956 104,831 162,500 162,816 5 568,992 118,561 90,336 162,580 162,500 136,211 110,308 $ 490,510 $ 417,100 The company's income statements for the Current Year and 1 Year Ago follow. Assume that all sales are on credit: For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net Income Earnings per share Current Yr 5 739,690 5 451,211 229, 304 12,575 9.616 702, 700 5 36,984 5 2.28 1 Yr Ajo 5 583,787 $ 379,410 147,678 13,425 3.256 $ $ 6 C Exercise 13-8 Part 2 (2-a) Compute accounts receivable turnover. (2-b) For each ratio, determine if it improved or worsened in the current year, Complete this question by entering your answers in the tabs below. Required 2A Required 2B Compute accounts receivable turnover. Choose Numerator: Net sales Accounts Receivable Tumover Choose Denominator: Average accounts receivable, net Accounts Receivable Turnov Accounts receivable turnover times Current Yr: 1 Yr Ago: Olmes Required 28 ) 5 6 of 14 it o o search