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Last year Delightful Desserts had a quick ratio of 2.2, a current ratio of 5.0, an inventory turnover of 8, total current assets of
Last year Delightful Desserts had a quick ratio of 2.2, a current ratio of 5.0, an inventory turnover of 8, total current assets of $300,000, and cash and equivalents of $34,000. If the cost of goods sold equaled 80 percent of sales, what were Bailey's annual sales and days' sales outstanding (DSO)? Assume there are 360 days in a year. Round your answer for annual sales to the nearest dollar and answer for DSO to one decimal place. Annual sales: $ DSO: days
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