Use the following account information for Problems

2018 Selected Income Statement Items for Rian Company

Cash Sales$298,000

Credit Sales$672,000

Total Sales$970,000

Cost of goods sold$570,000

2017 and 2018 Selected Balance Sheet Accounts of Rian Company

12/31/1812/31/17Change

Accounts Receivable$38,000$46,000-$8,000

Inventory$55,000$59,000-$4,000

Accounts Payable$27,000$25,000$2,000

Average production cycle. Find the average production cycle for Rian Company.

Average production cycle. For the coming year, Rian Company wants to reduce its average production cycle to thirty days. If the target-ending inventory for 2019 is $61,000, what cost of goods sold will the company need to reach its goal?

Average collection cycle. What is the average collection cycle for Rian Company?

Average collection cycle. Rian Company had a target of twenty days for the collection cycle for the year 2018. If total sales had remained at $970,000, how much of the sales revenue would have needed to be cash sales for the company to meet the collection goal?

Average accounts payable cycle. Calculate Rian Company's average accounts payable cycle.

Average accounts payable cycle. Rian Company had a target of fifteen days for its payment (accounts payable) cycle. What would the ending balance in the accounts payable account need to be to reach this target (holding all other accounts the same)?