Set up the following spreadsheet comparing Vong and Crist Companies:

Required
a. For each company, compute gross profit, gross profit percentage, net realizable value, accounts receivable turnover, and average days to collect.
b. In relation to cost, which company is charging more for its merchandise?
c. Which company is likely to incur higher financial costs associated with granting credit to customers? Explain the reasons for your answer.
d. Which company appears to have more restrictive credit standards when authorizing credit to customers? How do you know?

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Crist 2 3 Sales 4 Cost of Goods Sold Von $800,000$1,100,000 600,000 660,000 5 Gross Profit 6 7 Gross Profit Percentage 9 Accounts Receivable 10 Allowance for Doubtful Accounts 11 Net Realizable Value 12 13 Accounts Receivable Turnover 14 15 Average Days to Collect 130,000 10,000 270,000 27000