The following ratios are available for Western Roofing: Instructions (a) Calculate the collection period, days sales in
Question:
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Instructions
(a) Calculate the collection period, days sales in inventory, and operating cycle for each year.
(b) Has Western Roofing's liquidity improved or weakened over the three-year period? Explain.
(c) Do changes in turnover ratios affect profitability? Explain.
(d) Do changes in turnover ratios affect cash flow? Explain.
TAKING IT FURTHER
At the beginning of 2015, the owner of Western Roofing decided to start offering customers a sales discount for early payment. The terms of credit sales were changed from n/30 to 2/10, n/30. Evaluate this decision.
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Step by Step Answer:
a 2015 2014 2013 Collection period 365 106 344 days 365 89 410 days 365 90 406 days Days sales in inventory 365 73 500 days 365 76 480 days 365 75 487 ...View the full answer
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