Question Four (20 points) Selected data of Ismael Company follow: Balance Sheet Data Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories-lower of cost or market Income Statement Data Net credit sales Net cash sales Net sales Cost of goods sold Selling, general, and administrative expenses Other Total operating expenses Required: 1. What is the accounts receivable turnover for 2011? (20 points) 2. What is the inventory turnover for 2011? (20 points) Question Four (20 points) Selected data of Ismael Company follow: Balance Sheet Data Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories-lower of cost or market $ Year End 2011 2,500, 500, 3,000, 2,000, 300, 50, 2,350, istrative expenses Required: 1. What is the accounts receivable turnover for 2011? (20 points) 2. What is the inventory turnover for 2011? (20 points) Question Four (20 points) Selected data of Ismael Company follow: Balance Sheet Data Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventorieslower of cost or market $ Year Ended December 31, 2011 2010 2,500,000 $ 2,200,000 500,000 400,000 3,000,000 2,600,000 2,000,000 1,800,000 300,000 270,000 50,000 30,000 2,350,000 2,100,000 Required: 1. What is the accounts receivable turnover for 2011? (20 points) 2. What is the inventory turnover for 2011? (20 points) Question Four (20 points) Selected data of Ismael Company follow: Balance Sheet Data Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories-lower of cost or market Income Statement Data Net credit sales Net cash sales Net sales Cost of goods sold Selling, general, and administrative expenses Other Total operating expenses Required: 1. What is the accounts receivable turnover for 2011? (20 points) 2. What is the inventory turnover for 2011? (20 points) Question Four (20 points) Selected data of Ismael Company follow: Balance Sheet Data Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories-lower of cost or market $ Year End 2011 2,500, 500, 3,000, 2,000, 300, 50, 2,350, istrative expenses Required: 1. What is the accounts receivable turnover for 2011? (20 points) 2. What is the inventory turnover for 2011? (20 points) Question Four (20 points) Selected data of Ismael Company follow: Balance Sheet Data Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventorieslower of cost or market $ Year Ended December 31, 2011 2010 2,500,000 $ 2,200,000 500,000 400,000 3,000,000 2,600,000 2,000,000 1,800,000 300,000 270,000 50,000 30,000 2,350,000 2,100,000 Required: 1. What is the accounts receivable turnover for 2011? (20 points) 2. What is the inventory turnover for 2011? (20 points)