Question
The following information pertains to Vaughn Manufacturing. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were
The following information pertains to Vaughn Manufacturing. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit.
Assets | |
---|---|
Cash and short-term investments | $ 47500 |
Accounts receivable (net) | 35600 |
Inventory | 27900 |
Property, plant and equipment | 210000 |
Total Assets | $321000 |
Liabilities and Stockholders Equity | |
Current liabilities | $ 52900 |
Long-term liabilities | 80300 |
Stockholders equitycommon | 187800 |
Total Liabilities and Stockholders Equity | $321000 |
Income Statement | |
Sales revenue | $128160 |
Cost of goods sold | 60520 |
Gross margin | 67640 |
Operating expenses | 33500 |
Net income | $ 34140 |
Number of shares of common stock | 5700 |
Market price of common stock | $18 |
Dividends per share on common stock | 6.8 |
Cash provided by operations | $37000 |
What is the accounts receivable turnover for this company?
6.7 times
3.6 times
1.7 times
3.4 times
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started