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Jim Kovacs Company makes supplies for schools. Sales in 20XX were $4,370,000. Assets were as follows Cash $125,000 843,000 471,000 540,000 Accounts receivable Inventory Net
Jim Kovacs Company makes supplies for schools. Sales in 20XX were $4,370,000. Assets were as follows Cash $125,000 843,000 471,000 540,000 Accounts receivable Inventory Net plant and equipment $1,979,000 Total assets a. Compute the following: (Round the final answers to 2 decimal places.) Accounts receivable turnover 2. Inventory turnover 3. Capital asset turnover 4. Total asset turnover b-1. In 20XY, sales increased to $5,800,000 and the assets for that year were as follows: Cash $125,000 907,000 1,037,000 540,000 Accounts receivable Inventory Net plant and equipment $2,609,000 Total assets Compute the following: (Round the final answers to 2 decimal places.) Accounts receivable . turnover 2. Inventory turnover 3. Capital asset turnover 4. Total asset turnover b-2. Indicate if there is an improvement or decline in total asset turnover. OImprovement O Decline
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