You are analyzing two companies that manufacture electronic toys$$Like Games Inc. and Our Play Inc. Like Games was launched eight years ago, whereas Our Play is a relatively new company that has been in operation for only the past two years. However, both companies have an equal market share with sales of $$800,000$ each. You$$ve collected company data to compare Like Games and Our Play. Last year, the average sales for all industry competitors was $$2,040,000.$ As an analyst, you want to make comments on the expected performance of these two companies in the coming year. You$$ve collected data from the companies$$ financial statements. This information is listed as follows: $($Note: Assume there are $365$ days in a year.$)$

Data Collected $($in dollars$)$

Like Games

Our Play

Industry Average

Accounts receivable $21,60031,20030,800$

Net fixed assets $440,000640,0001,734,000$

Total assets $760,0001,000,0001,876,800$

Using this information, complete the following statements to include in your analysis.

$1.$ Ahigh days of sales outstanding represents an efficient credit and collection policy. Between the two companies, is collecting cash from its customers faster than $,$ but both companies are collecting their receivables less quickly than the industry average.

$2.$ Our Play$$s fixed assets turnover ratio ishigher than that of Like Games. This could be because Our Play is a relatively new company, so the acquisition cost of its fixed assets ishigher than the recorded cost of Like Games$$s net fixed assets.

$3.$ Like Games$$s total assets turnover ratio is$0\mathrm{.}80$x $,$ which islower than the industry$$s average total assets turnover ratio. In general, a higher total assets turnover ratio indicates greater efficiency.