The following amounts were reported by Sindarius Ltd. in its most recent statement of financial position:...

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The following amounts were reported by Sindarius Ltd. in its most recent statement of financial position: 2020 2019 Cash and cash equivalents $33,300 $97,200 Accounts receivable (net) 271,950 206,550 Inventory 627,150 469,800 Prepaid expenses 16,650 16,200 Property, plant, and equipment (net) 1,165,300 1,238,200 Accounts payable 437,000 306,000 Wages payable 29,000 29.000 Income tax payable 23.000 18,000 Unearned revenue 66,000 52,000 Long-term bank loan payable 812,000 886,000 Common shares 200,000 200,000 Retained earnings 547,350 536.950 The company had sales of $2,012,430 in 2020 and $2,065,500 in 2019. All sales were on account. 2020 2019 Current ratio 1.71 1.95 Quick ratio 0.55 0.75 Current ratio Worsened Quick ratio Worsened Calculate Sindarius's accounts receivable turnover ratio and average collection period for the current and preceding years. For the accounts receivable turnover ratio, use the balance of accounts receivable at each year end for this calculation, rather than average balances. (Round accounts receivable turnover ratio to 2 decimal places, eg 15.25 and average collection period to 1 decimal place, es. 15.1. Use 365 days for calculation) 2020 2019 Accounts receivable turnover ratio times times Average collection period days days Comment on whether these ratios have improved or worsened. Accounts receivable turnover ratio Average collection period Improved Worsened The following amounts were reported by Sindarius Ltd. in its most recent statement of financial position: 2020 2019 Cash and cash equivalents $33,300 $97,200 Accounts receivable (net) 271,950 206,550 Inventory 627,150 469,800 Prepaid expenses 16,650 16,200 Property, plant, and equipment (net) 1,165,300 1,238,200 Accounts payable 437,000 306,000 Wages payable 29,000 29.000 Income tax payable 23.000 18,000 Unearned revenue 66,000 52,000 Long-term bank loan payable 812,000 886,000 Common shares 200,000 200,000 Retained earnings 547,350 536.950 The company had sales of $2,012,430 in 2020 and $2,065,500 in 2019. All sales were on account. 2020 2019 Current ratio 1.71 1.95 Quick ratio 0.55 0.75 Current ratio Worsened Quick ratio Worsened Calculate Sindarius's accounts receivable turnover ratio and average collection period for the current and preceding years. For the accounts receivable turnover ratio, use the balance of accounts receivable at each year end for this calculation, rather than average balances. (Round accounts receivable turnover ratio to 2 decimal places, eg 15.25 and average collection period to 1 decimal place, es. 15.1. Use 365 days for calculation) 2020 2019 Accounts receivable turnover ratio times times Average collection period days days Comment on whether these ratios have improved or worsened. Accounts receivable turnover ratio Average collection period Improved Worsened

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