Using the Spin Master financial statements in Appendix III, calculate the following ratios for the years ended

Question:

Using the Spin Master financial statements in Appendix III, calculate the following ratios for the years ended December 31, 2017 and December 31, 2016. At December 31, 2015, Spin Master had an accounts receivable balance of $134,618,000 and net sales of $879,406,000. Comment on the change.

a. Accounts receivable turnover ratio (round to two decimal places)

b. Days’ sales in inventory (round to the nearest day)

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... 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...

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