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Corona Company's balance sheet accounts follow: At December 31 2014 2013 2012 Assets Cash $38,474 $43,775 $43,800 Accounts receivable, net 90,640 66,607 53,770 Merchandise inventory
Corona Company's balance sheet accounts follow:
At December 31 | 2014 | 2013 | 2012 |
Assets | |||
Cash | $38,474 | $43,775 | $43,800 |
Accounts receivable, net | 90,640 | 66,607 | 53,770 |
Merchandise inventory | 107,726 | 86,103 | 58,713 |
Prepaid expenses | 20,936 | 20,711 | 16,047 |
Plant assets, net | 254,460 | 231,544 | 212,160 |
Total assets | $512,236 | $448,740 | $384,490 |
Liabilities and Equity | |||
Accounts payable | $127,270 | $86,347 | $61,473 |
Long-term notes payable secured by mortgages on plant assets | 105,003 | 107,031 | 89,653 |
Common stock, $10 par value | 168,500 | 168,500 | 168,500 |
Retained earnings | 111,463 | 86,862 | 64,864 |
Total liabilities and equity | $512,236 | $448,740 | $384,490 |
What is Corona Company's days' sales in inventory ratio for 2014, assuming net sales and gross profit for the period were $1,385,205, $989,237 respectively
what is the correct answer 61.40 99.30 54.12 79.37 83.55 |
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