W. F. Bailey Company had a quick ratio of 1.4, a current ratio of 3.0, an inventory

Question:

W. F. Bailey Company had a quick ratio of 1.4, a current ratio of 3.0, an inventory turnover of five times, total current assets of $810,000, and cash and equivalents of $120,000 in 2012. If the cost of goods sold equaled 86 percent of sales, what were Bailey's annual sales and DSO?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Principles of Finance

ISBN: 978-1111527365

5th edition

Authors: Scott Besley, Eugene F. Brigham

Question Posted: