Question: Angels Corporation has current assets of 87 000 and current liabilities
Angels Corporation has current assets of $87,000 and current liabilities of $56,000, of which accounts payable are $48,000. Angels’ cost of goods sold is $274,000, its merchandise inventory increased by $16,000, and accounts payable were $32,000 the prior year. Calculate Angels’ working capital, payables turnover, and days’ payable.
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