Culver Corporation, a fertilizer company, had the following information in its financial statements for the fiscal...

 

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Culver Corporation, a fertilizer company, had the following information in its financial statements for the fiscal years ended December 31. All figures are in millions of dollars. Current assets Current liabilities Net sales Trade accounts receivable Allowance for doubtful accounts (2) (3) (2) (1) Current ratio for 2022 through 2024 2024 Current ratio $2.398.8 2.851.4 8,735.4 Receivables turnover 1,050.3 Collection 7.7 Calculate Culver's (Round ratios to 2 decimal places, eg. 52.75:1 and 52.75 times and Collection period to O decimal places, eg 125 days. Use 365 days for calculation) Receivables turnover ratio for 2023 and 2024. Average collection period for 2023 and 2024, 2023 $1.641.6 1,012.1 5,104.0 545.0 6.4 2024 1 2022 $1,329.2 times 996.3 3.284.2 439.4 4.8 2023 1 times 2022 (3) (1) (2) (3) (1) (2) ((3) Average collection period for 2023 and 2024 (4) Current ratio Receivables. turnover Collection period Determine from the results obtained in part (a) if Culver's 2024 :1 times Save for Later days Current ratio improved or deteriorated from 2023 to 2024 Current ratio improved or deteriorated from 2022 to 2023 Receivables turnover improved or deteriorated from 2023 to 2024 Collection period improved or deteriorated from 2023 to 2024 2023 1 times days 2022 Attempts: 0 of 1 used Submit Answer Culver Corporation, a fertilizer company, had the following information in its financial statements for the fiscal years ended December 31. All figures are in millions of dollars. Current assets Current liabilities Net sales Trade accounts receivable Allowance for doubtful accounts (2) (3) (2) (1) Current ratio for 2022 through 2024 2024 Current ratio $2.398.8 2.851.4 8,735.4 Receivables turnover 1,050.3 Collection 7.7 Calculate Culver's (Round ratios to 2 decimal places, eg. 52.75:1 and 52.75 times and Collection period to O decimal places, eg 125 days. Use 365 days for calculation) Receivables turnover ratio for 2023 and 2024. Average collection period for 2023 and 2024, 2023 $1.641.6 1,012.1 5,104.0 545.0 6.4 2024 1 2022 $1,329.2 times 996.3 3.284.2 439.4 4.8 2023 1 times 2022 (3) (1) (2) (3) (1) (2) ((3) Average collection period for 2023 and 2024 (4) Current ratio Receivables. turnover Collection period Determine from the results obtained in part (a) if Culver's 2024 :1 times Save for Later days Current ratio improved or deteriorated from 2023 to 2024 Current ratio improved or deteriorated from 2022 to 2023 Receivables turnover improved or deteriorated from 2023 to 2024 Collection period improved or deteriorated from 2023 to 2024 2023 1 times days 2022 Attempts: 0 of 1 used Submit Answer

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1 Current Ratio Current Ratio Current Assets Current Liabilities For 2022 13292 million 9963 million ... View the full answer