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What is the accounts receivable turnover for 2014

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Part B (20 points);Selected data of the Peninsula Company follow;As of December 31;Balance Sheet Data 2014 2013;Accounts receivable $671,000 $642,000;Allowance for doubtful accounts 31,000 22,000;Net accounts receivable $640,000 $620,000;Inventories?lower of cost or market $542,500 $642,500;Year Ended December 31;Income Statement Data 2014 2013;Net credit sales $3,150,000 $3,000,000;Net cash sales 800,000 600,000;Net sales $3,950,000 $3,600,000;Cost of goods sold $2,370,000 $2,160,000;Selling, general, and administrative expenses 475,000 350,000;Other 150,000 125,000;Total operating expenses $2,995,000 $2,635,000;Net income $955,000 $965,000;a. What is the accounts receivable turnover for 2014?;b. What is the inventory turnover for 2014?;Part C (40 points);Selected information taken from the 2014 annual report of Aardvark Company follows. During 2014, the company had no nonoperating or nonrecurring items included in income and had no outstanding preferred stock.;($ in millions) 2014 2013;Sales $19,903 $18,781;Interest expense 130 169;Net income 1,153 1,088;Total assets 12,673 12,461;Dividends (153) (131);Total stockholders? equity $4,288 $4,007;Assumed tax rate 35% 35%;Industry ROA 7.32%;Industry operating profit margin 6.1%;For 2014, calculate;a. ROA;b. ROCE;c. Operating profit margin;d. Asset turnover.

 

Paper#25601 | Written in 18-Jul-2015

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