Using the most current annual reports or the Forms 10-K for Toro Company, complete the requirements below.

Question:

Using the most current annual reports or the Forms 10-K for Toro Company, complete the requirements below. To obtain the Forms 10-K use either the EDGAR system following the instructions in Appendix A or the companies’ websites. The annual reports can be found on the companies’ websites.

Required

a. What was Toro’s average days to collect accounts receivable? Show your computations.

b. What percentage of accounts receivable did Toro estimate would not be collected?

c. Did Toro provide any information about warranties that it provides to customers? If so, what information was provided?

d. Does it appear that Toro’s warranty costs have been decreasing or increasing?

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...