Question
MC Qu. 110 Excerpts from Dowling Company's... Excerpts fromDowling Company's December 31, 2018 and 2017, financial statementsand key ratios are presented below (all numbers are
MC Qu. 110 Excerpts from Dowling Company's... Excerpts fromDowling Company's December 31, 2018 and 2017, financial statementsand key ratios are presented below (all numbers are in millions):Dowling's 2018 average collection period is?
| 2018 | 2017 | ||||||
| Accounts receivable (net) | $ | 22 | $ | 14 | |||
| Net sales | $ | 126 | $ | 111 | |||
| Cost of goodssold | $ | 71 | $ | 66 | |||
| Net income | $ | 22 | $ | 17 | |||
| Inventoryturnover | 5.75 | ||||||
| Return onassets | 11.30 | % | |||||
| EquityMultiple | 2.47 | ||||||
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Accounting Information System
Authors: James A. Hall
7th Edition
978-1439078570, 1439078572
