| Account | Current Year | Prior Year |
| Net sales (all credit) | $445,400 | $362,000 |
| Costs of goods sold | $220,000 | $185,000 |
| Gross profit | $225,400 | $177,000 |
| Income from operations | $72,000 | $80,000 |
| Interest expense | $8,000 | $14,000 |
| Net income | $40,000 | $35,000 |
| Cash | $34,000 | $28,000 |
| Accounts receivable, net | $42,000 | $62,000 |
| Inventory | $120,000 | $100,000 |
| Prepaid expenses | $4,000 | $2,000 |
| Total current assets | $200,000 | $192,000 |
| Total long-term assets | $200,000 | $230,000 |
| Total current liabilities | $100,000 | $165,000 |
| Total long-term liabilities | $44,000 | $95,000 |
| Common stock, no par, $8,000 shares, value $120/share | $80,000 | $80,000 |
What is the days' in receivable? Please provide formula and explanation
What does it reveal about the company?
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Account Current Year Prior Year Net sales (all credit) $445,400 $362,000 Costs of goods sold $220,000...
Account Current Year Prior Year Net sales (all credit) $445,400 $362,000 Costs of goods sold $220,000 $185,000 Gross profit $225,400 $177,000 Income from operations $72,000 $80,000 Interest expense $8,000 $14,000 Net income $40,000 $35,000 Cash $34,000 $28,000 Accounts receivable, net $42,000 $62,000 Inventory $120,000 $100,000 Prepaid expenses $4,000 $2,000 Total current assets $200,000 $192,000 Total long-term assets $200,000 $230,000 Total current liabilities $100,000 $165,000 Total long-term liabilities $44,000 $95,000 Common stock, no par, $8,000 shares, value $120/share $80,000 $80,000 E....
Account Current Year Prior Year Net sales (all credit) $445,400 $362,000 Costs of goods sold $220,000 $185,000 Gross profit $225,400 $177,000 Income from operations $72,000 $80,000 Interest expense $8,000 $14,000 Net income $40,000 $35,000 Cash $34,000 $28,000 Accounts receivable, net $42,000 $62,000 Inventory $120,000 $100,000 Prepaid expenses $4,000 $2,000 Total current assets $200,000 $192,000 Total long-term assets $200,000 $230,000 Total current liabilities $100,000 $165,000 Total long-term liabilities $44,000 $95,000 Common stock, no par, $8,000 shares, value $120/share $80,000 $80,000 What...
Account Current Year Prior Year Net sales (all credit) $445,400 $362,000 Costs of goods sold $220,000 $185,000 Gross profit $225,400 $177,000 Income from operations $72,000 $80,000 Interest expense $8,000 $14,000 Net income $40,000 $35,000 Cash $34,000 $28,000 Accounts receivable, net $42,000 $62,000 Inventory $120,000 $100,000 Prepaid expenses $4,000 $2,000 Total current assets $200,000 $192,000 Total long-term assets $200,000 $230,000 Total current liabilities $100,000 $165,000 Total long-term liabilities $44,000 $95,000 Common stock, no par, $8,000 shares, value $120/share $80,000 $80,000 E....
Account Current Year Prior Year Net sales (all credit) $445,400 $362,000 Costs of goods sold $220,000 $185,000 Gross profit $225,400 $177,000 Income from operations $72,000 $80,000 Interest expense $8,000 $14,000 Net income $40,000 $35,000 Cash $34,000 $28,000 Accounts receivable, net $42,000 $62,000 Inventory $120,000 $100,000 Prepaid expenses $4,000 $2,000 Total current assets $200,000 $192,000 Total long-term assets $200,000 $230,000 Total current liabilities $100,000 $165,000 Total long-term liabilities $44,000 $95,000 Common stock, no par, $8,000 shares, value $120/share $80,000 $80,000 What...
Account Current Year Prior Year Net sales (all credit) $445,400 $362,000 Costs of goods sold $220,000 $185,000 Gross profit $225,400 $177,000 Income from operations $72,000 $80,000 Interest expense $8,000 $14,000 Net income $40,000 $35,000 Cash $34,000 $28,000 Accounts receivable, net $42,000 $62,000 Inventory $120,000 $100,000 Prepaid expenses $4,000 $2,000 Total current assets $200,000 $192,000 Total long-term assets $200,000 $230,000 Total current liabilities $100,000 $165,000 Total long-term liabilities $44,000 $95,000 Common stock, no par, $8,000 shares, value $120/share $80,000 $80,000 D....
Account Current Year Prior Year Net sales (all credit) $445,400 $362,000 Costs of goods sold $220,000 $185,000 Gross profit $225,400 $177,000 Income from operations $72,000 $80,000 Interest expense $8,000 $14,000 Net income $40,000 $35,000 Cash $34,000 $28,000 Accounts receivable, net $42,000 $62,000 Inventory $120,000 $100,000 Prepaid expenses $4,000 $2,000 Total current assets $200,000 $192,000 Total long-term assets $200,000 $230,000 Total current liabilities $100,000 $165,000 Total long-term liabilities $44,000 $95,000 Common stock, no par, $8,000 shares, value $120/share $80,000 $80,000 G....
Account Current Year Prior Year Net sales (all credit) $445,400 $362,000 Costs of goods sold $220,000 $185,000 Gross profit $225,400 $177,000 Income from operations $72,000 $80,000 Interest expense $8,000 $14,000 Net income $40,000 $35,000 Cash $34,000 $28,000 Accounts receivable, net $42,000 $62,000 Inventory $120,000 $100,000 Prepaid expenses $4,000 $2,000 Total current assets $200,000 $192,000 Total long-term assets $200,000 $230,000 Total current liabilities $100,000 $165,000 Total long-term liabilities $44,000 $95,000 Common stock, no par, $8,000 shares, value $120/share $80,000 $80,000 F....
Account Current Year Prior Year Net sales (all credit) $445,400 $362,000 Costs of goods sold $220,000 $185,000 Gross profit $225,400 $177,000 Income from operations $72,000 $80,000 Interest expense $8,000 $14,000 Net income $40,000 $35,000 Cash $34,000 $28,000 Accounts receivable, net $42,000 $62,000 Inventory $120,000 $100,000 Prepaid expenses $4,000 $2,000 Total current assets $200,000 $192,000 Total long-term assets $200,000 $230,000 Total current liabilities $100,000 $165,000 Total long-term liabilities $44,000 $95,000 Common stock, no par, $8,000 shares, value $120/share $80,000 $80,000 C....
Account Current Year Prior Year Net sales (all credit) $445,400 $362,000 Costs of goods sold $220,000 $185,000 Gross profit $225,400 $177,000 Income from operations $72,000 $80,000 Interest expense $8,000 $14,000 Net income $40,000 $35,000 Cash $34,000 $28,000 Accounts receivable, net $42,000 $62,000 Inventory $120,000 $100,000 Prepaid expenses $4,000 $2,000 Total current assets $200,000 $192,000 Total long-term assets $200,000 $230,000 Total current liabilities $100,000 $165,000 Total long-term liabilities $44,000 $95,000 Common stock, no par, $8,000 shares, value $120/share $80,000 $80,000 What...
Account Current Year Prior Year Net sales (all credit) $445,400 $362,000 Costs of goods sold $220,000 $185,000 Gross profit $225,400 $177,000 Income from operations $72,000 $80,000 Interest expense $8,000 $14,000 Net income $40,000 $35,000 Cash $34,000 $28,000 Accounts receivable, net $42,000 $62,000 Inventory $120,000 $100,000 Prepaid expenses $4,000 $2,000 Total current assets $200,000 $192,000 Total long-term assets $200,000 $230,000 Total current liabilities $100,000 $165,000 Total long-term liabilities $44,000 $95,000 Common stock, no par, $8,000 shares, value $120/share $80,000 $80,000 C....