Question
The following information is available for Crane Products: 2014 2013 Accounts receivable $62,400 $76,960 Cost of goods sold 536,640 603,200 Inventory (ending) 54,080 70,720 Net
The following information is available for Crane Products: 2014 2013 Accounts receivable $62,400 $76,960 Cost of goods sold 536,640 603,200 Inventory (ending) 54,080 70,720 Net cash provided by operating activities 228,800 176,800 Net sales 919,776 977,600 Capital expenditures 41,600 39,520 Dividends 25,272 33,280 Compute the following for 2014: (Round answers to 1 decimal place, e.g. 52.7. Use 365 days for calculation.) Accounts receivable turnover enter a number of times rounded to 1 decimal place times Average collection period enter a number of days rounded to 1 decimal place days
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