Ratio Analysis for Comparative Calendar-Year Financial Data
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Comparative calendar-year financial data for a company are shown below:
2008 2007
Sales $720,000 $607,500
Cost of Goods Sold 450,000 382,700
Operating expenses 168,500 134,900
Net Income 51,200 51,700
December 31, 2008 December 31, 2007
Accounts Receivable (net) $157,500 $162,500
Inventory 139,500 110,500
Total assets 1,012,500 944,800
Calculate:
(1) Accounts receivable turnover for 2008.
(2) Days' sales uncollected for 2008.
(3) Inventory turnover for 2008.
(4) Days' sales in inventory for 2008.
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Solution Summary
The solution contains the computation of following ratios in an attached Excel file: accounts receivable turinver ratios, days' sales uncollected, inventory turnover ratios, and days' sales in inventory.
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