GS&H had the following information on its financial statements for the fiscal years ended December 31. All figures are in millions of Canadian dollars.

		2023			2022			2021			2020
Current assets		$1,600			$5,910			$3,850			$1,400
Current liabilities		629			2,181			1,276			980
Net sales		3,920			10,330			5,700			4,390
Accounts receivable - gross		1,390			930			740			540
Allowance for doubtful accounts		168			34			17			14

(a)

• Your Answer
• Correct Answer

Partially correct answer icon Your answer is partially correct.

Calculate the following for the company:

(1)		current ratio for 2020 through 2023
(2)		receivable turnover ratio for 2021 through 2023
(3)		average collection period for 2021 through 2023.

(Round ratio answers to 2 decimal places, e.g. 52.75. Round average collection period answers to 0 decimal places, e.g. 52. Use 365 days for calculation.)

2023

2022

2021

2020

Current ratio

:1

:1

:1

:1

Receivable turnover ratio

times

times

times

Average collection period

days

days

days

Attempts: 3 of 3 used

(b)

Determine from the results obtained in part (a) if the company’s:

(1)

Current ratio

from 2022 to 2023.
(2)		Current ratio

from 2020 to 2021.
(3)		Receivable turnover

from 2022 to 2023.
(4)		Receivable turnover

from 2021 to 2022.
(5)		Collection period

from 2021 to 2022.