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Selected data from Emporia Company follow Balance Sheets As of December 31 2017 2018 $600,000 (40,000) $480,000 Accounts rece
Net cash sales 4১৪,৪৬ Net sales 3,000,000 2,400,000 Cost of goods sold Selling, general, and administrative expenses Other ex
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Answer #1
(a) Accounts Receivable turnover :- 2018
a. Net Credit Sales $        2,400,000
b. Average Accounts Receivable
opening + closing 460000+560000 = $           510,000
2 2
Accounts Receivable turnover Ratio (a/b) 4.71 times
(b) Inventory turnover:- 2018
a. Cost of goods sold $        1,800,000
b. Average Inventory
opening + closing 400000+500000 = $           450,000
2 2
Inventory turnover Ratio (a/b) 4.00 times
(c) Net margin for 2017:- 2017
a. Net Sales $        2,400,000
b. Total Operating Expenses $        1,810,000
c. Net Margin (a-b) $           590,000
Net margin Ratio (c/a)*100 24.58%

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