1. It takes AAs Boutique an average of 53 days to sell its inventory and an average of 16.8 days to collect its accounts receivable. The firm has sales of $942,300 and costs of goods sold of $692,800. What is the accounts receivable turnover rate? Assume a 365-day year. Show your calculations!

1. 23.69
2. 11.41
3. 21.73
4. 24.23

2. A firm has inventory of $46,500, accounts payable of $17,400, cash of $1,250, net fixed assets of $318,650, long-term debt of $109,500, and accounts receivable of $16,600. What is the common-size percentage of the equity? Show your calculations!

1. 70.60 percent
2. 70.12 percent
3. 66.87 percent
4. 42.08 percent