plz

Question 7 [5 points] The following financial statements are for Holden Corp. 2012 Holden Corp. Income Statement For Years Ended December 31, 2014, 2013, and 2012 2014 2013 Sales 910,300 975,300 Cost of goods sold 391,000 301,200 Gross profit from sales 519,300 674,100 Operating expenses 225,500 239,400 Operating income 293,800 434,700 Interest expense 2,750 3,250 Income before taxes 291,050 431,450 Income taxes 149,000 160,100 Net income 142,050 271,350 2012 996,000 348,000 648,000 220,800 427,200 3,550 423,650 159,500 264,150 Holden Corp. Balance Sheet December 31, 2014, 2013, and 2012 Assets 2014 Cash 85,300 Short-term investments 80,000 Accounts receivable, net 60,000 Merchandise inventory. 96,100 Prepaid expenses 2,000 Notes receivable, due in 2018 12,500 Property, plant and equipment, net 170,000 Total assets 505,900 Liabilities and Equity Accounts payable 40,000 Salaries payable 4,900 Income taxes payable. 79,000 Long-term note payable secured by mortgage on plant assets 91,000 Share capital 190,000 Retained earnings 101,000 Total liabilities and equity 505,900 2013 86,300 92,000 63,600 113,800 2,000 14,000 206.000 577,700 90,200 99,000 57,800 99,600 2,200 12,500 216,000 577,300 34,100 5,100 90,000 80,000 180,000 188,500 577,700 35,500 4.800 100,050 89,000 180,000 167,950 577,300 Compute the accounts receivable turnover below, and indicate whether the change from year to year is favourable or unfavourable. For your analysis, assume that all other things have remained constant. Apply your analysis in very general terms. All values should be accurate to at least two decimal places. Ratio 2014 2013 Measure of Analysis Accounts receivable turnover (select one) (select one)