W. F. Bailey Company had a quick ratio of 1.4, a current ratio of 3.0, an inventory

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W. F. Bailey Company had a quick ratio of 1.4, a current ratio of 3.0, an inventory turnover of five times, total current assets of $810,000, and cash and equivalents of $120,000 in 2015. If the cost of goods sold equaled 80 percent of sales, what were Bailey’s annual sales and DSO?

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Principles of Finance

ISBN: 978-1285429649

6th edition

Authors: Scott Besley, Eugene F. Brigham

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