The following information was taken from Nash Inc.'s trial balances as of December 31, 2018, and December
Question:
Required:
1. Calculate the net profit margin and accounts receivable turnover for 2019.
2. How much does Nash make on each sales dollar?
3. How many days does the average receivable take to be paid (assuming all sales are on account)?
Transcribed Image Text:
12/31/2019 12/31/2012 $ 32,000 47,000 219,000 4,000 47,000 5,000 $ 39,000 36,000 128,000 2,300 16,000 1,000 9,000 Accounts receivable Accounts payable Sales Sales returns Retained earnings Dividends Net income 36,000
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