Martin Co. Income Statement For Period Ending Dec. 31, 2021 ($) Revenue $350,000 RM $175,000 Fret In $2,000 COGS $177,000 Gross Margin $173,000 Operating Expenses: SalesSal. $80,000 Comm. $2,000 Advert. $3,000 Travel $2,000 Deprectn. $38,000 Total OE $125,000 Operating Margin (Income) $48,000 Interest Expense $10,000 Less: Taxes $13,000 Net Profit (Income) $25,000 Q2 - Part B What is the Current Average Accounts Receivable for 2021 ? if Collection Period Reduced to 30 days ? Current Targeted Performance Performance Sales $0 Average Daily Sales $0 $0 Average Collection Period (Days) 010 Investment in A/R $0 $0 Reduction in A/R 

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questions tigate D E F G Assets: Current Assets Martin Co. Balance Sheet As at Dec. 31, 2021 ($) Liabilities: Current Liabilities Martin Co. Income Statement For Period Ending Dec. 31, 2021 ($) Revenue $3,50,000 Cash $15,000 Cur.Pay Trade Rec. $35,000 Pre Paid E> $5,000 Inventory $50,000 Total CA $1,05,000 ST Loan DebtDue $5,000 Total CL $52,000 $17,000 $30,000 RM Frgt In COGS $1,75,000 $2,000 $1,77,000 Long Term Liabilities LT Liabil. Long Term Assets Total Liabilities $60,000 $1,12,000 Gross Margin $1,73,000 Property a $1,70,000 Acc.Depn. $38,000 Net Proper $1,32,000 Operating Expenses: Owner's Equity SalesSal. $80,000 Share Cap. $1,00,000 Comm. $2,000 Total Assets $2,37,000 Ret. Earn. $25,000 Total OE $1,25,000 Advert. $3,000 Travel $2,000 Deprectn. $38,000 Total Liab+Oequity $2,37,000 Total OE $1,25,000 Operating Margin (In $48,000 Q1 Based on the above Balance Sheet Module 2 Solution module 3 questions module 3 solution. module 5 Interest Ex $10,000 + Q Search questions tigate D E F G Assets: Current Assets Martin Co. Balance Sheet As at Dec. 31, 2021 ($) Liabilities: Current Liabilities Martin Co. Income Statement For Period Ending Dec. 31, 2021 ($) Revenue $3,50,000 Cash $15,000 Cur.Pay Trade Rec. $35,000 Pre Paid E> $5,000 Inventory $50,000 Total CA $1,05,000 ST Loan DebtDue $5,000 Total CL $52,000 $17,000 $30,000 RM Frgt In COGS $1,75,000 $2,000 $1,77,000 Long Term Liabilities LT Liabil. Long Term Assets Total Liabilities $60,000 $1,12,000 Gross Margin $1,73,000 Property a $1,70,000 Acc.Depn. $38,000 Net Proper $1,32,000 Operating Expenses: Owner's Equity SalesSal. $80,000 Share Cap. $1,00,000 Comm. $2,000 Total Assets $2,37,000 Ret. Earn. $25,000 Total OE $1,25,000 Advert. $3,000 Travel $2,000 Deprectn. $38,000 Total Liab+Oequity $2,37,000 Total OE $1,25,000 Operating Margin (In $48,000 Q1 Based on the above Balance Sheet Module 2 Solution module 3 questions module 3 solution. module 5 Interest Ex $10,000 + Q Search

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To calculate the current average accounts receivable for 2021 if the coll... View the full answer