Question: Current Attempt in Progress GS&H had the following information on its financial statements for the fiscal years ended December 31. All figures are in millions
Current Attempt in Progress GS&H had the following information on its financial statements for the fiscal years ended December 31. All figures are in millions of Canadian dollars. 2023 2022 2021 2020 Current assets $1,602 $5,928 $3,854 $1,510 Current liabilities 629 2,181 1,276 980 Net sales 3,980 10,345 5,736 4,410 Accounts receivable-gross 1,487 954 743 563 Allowance for doubtful accounts 168 34 17 14 Calculate the following for the company: Calculate the following for the company: (1) current ratio for 2020 through 2023 (2) receivable turnover ratio for 2021 through 2023 (3) average collection period for 2021 through 2023. (Round ratio answers to 2 decimal places, e.g. 52.75. Round average collection period answers to O decimal places, e.g. 52. Use 365 days for calculation.) 2023 2022 2021 Current :1 :1 :1 ratio Receivable turnover times times times ratio Average collection days days days Average collection period eTextbook and Media days days days Determine from the results obtained in part (a) if the company's: (1) Current ratio (2) Current ratio (3) Receivable turnover from 2022 to 2023. from 2020 to 2021. from 2022 to 2023. Determine from the results obtained in part (a) if the company's: (1) Current ratio (2) Current ratio (3) Receivable turnover (4) Receivable turnover from 2022 to 2023. from 2020 to 2021. from 2022 to 2023. from 2021 to 2022. (5) Collection period from 2021 to 2022
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