Question: Selected 2016 balance sheet and income statement information from Trunk, Inc. and Taylor S. follows: ($ millions) Sales Cost of goods sold Average accounts receivable
Selected 2016 balance sheet and income statement information from Trunk, Inc. and Taylor S. follows: ($ millions) Sales Cost of goods sold Average accounts receivable Average inventory Average total assets Taylor S. $5,530 2,510 38 408 1,814 Trunk, Inc. $11.908 3,243 318 926 5,740 A Compute the following turnover rates for each company: 1. Accounts receivable turnover 2. Inventory turnover 3. Asset turnover
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