Question: Cherokee Inc reported the following items at December 31 2014

Cherokee, Inc., reported the following items at December 31, 2014, and 2013:


Requirements
1. Compute Cherokee’s
(a) Quick (acid-test) ratio
(b) Days’ sales in receivables for 2014.
Evaluate each ratio value as strong or weak. Cherokee sells on terms of net 30 days.
2. Recommend two ways for Cherokee to improve its cash flow fromreceivables.
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  • CreatedJuly 25, 2014
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