Question: Please help me with this, thank you! Operating Asset Management Analysis Partial comparative balance sheet and income statement information for Posad Company is as follows:

Please help me with this, thank you!

Operating Asset Management Analysis

Partial comparative balance sheet and income statement information for Posad Company is as follows:

20142013
Cash$ 13,600$ 10,400
Marketable securities7,20017,200
Accounts receivable (net)44,80035,600
Inventory54,40049,600
Total current assets$120,000$112,800
Accounts payable$ 40,000$ 28,200
Net sales$322,560$220,720
Cost of goods sold217,600203,360
Gross margin$104,960$ 17,360

In 2012, the year-end balances for Accounts Receivable and Inventory were $32,400 and $51,200, respectively. Accounts Payable was $30,600 in 2012 and is the only current liability.

Compute the current ratio, quick ratio, receivables turnover, days' sales uncollected, inventory turnover, days' inventory on hand, payables turnover, days' payable for each year, and financing period. Assume 365 days in a year. Round your answers to one decimal place

Please help me with this, thank you! Operating Asset Management AnalysisPartial comparative

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!