E4-26

EA-26 The 2024 income statement of Anderson Medical Supply Company reported net sales of 58 million, cost of goods Evaluoting sold of 54.8 million, and net income of $800,000. The following table shows the company's comparative belance eficiency of asset sheets for 2024 and 2023 : management 104-10 The Role of Accounting as on Information System Some industry averages for Anderson's liee of business are 1. Determine the following ratios for 2024: a. Inventory turnover b. Receivables turnover c. Averige collection period d. Asset turnover 2. Assess Anderson's asset management relhtive to its industry