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I need an answer with the steps, please! DeDE ratio =60% Total asset turnover =3.0x Days sales outstanding =24 days 17. Following is a partial
I need an answer with the steps, please!
DeDE ratio =60% Total asset turnover =3.0x Days sales outstanding =24 days 17. Following is a partial balance sheet for Jordan, Inc.: The new CFO is disappointed with the management of its current assets. In particular, he wants to reduce its DSO to the industry average which is 22 days. In addition, the firm wants to increase the inventory turnover ratio to 4x. The CFO wants to accomplish these goals without reducing its annual sales of $912,500. The funds generated from the reduction in inventories and accounts receivable will be used to reduce accounts payable. What will be the company's current ratio if it is able to accomplish this goalStep by Step Solution
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