accounts receivable turnover

Project Description:

the following information is from the annual financial statements of lucilla company.
net sales: 2011 were $262,000. 2010 were $193,000. 2009 were $245,000.
accounts receivable, net (year-end) 2011 were $42,700. 2010 were $40,500. 2009 were $37,200.
compute its accounts receivable turnover for 2010 and 2011. compare the two year's results and give a possible explanation for any change (competitors average a turnover of 7)
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Price Type: Negotiable

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