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W.F. Bailey Company Ratio Analysis

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W.F. Bailey Company had a quick ratio of 1.4, a current ratio of 3.0, an inventory turnover of 5 times, total current assets of $810,000, and cash and marketable securities of $120,000 in 2007. If the cost of goods sold equaled 86 percent of sales, what were Baileys annual sales and its DSO (days sales outstanding).

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Solution Summary

The solution calculates the annual sales and days sales outstanding using ratio analysis.

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