Anne's Antiques Shop reported the following income statement and balance sheet for 2013: a) Determine the inventory turnover and the average number of days to sell its inventory.
b) Determine the accounts receivable turnover and the average number of days it takes to collect accounts receivable.
c) Determine the estimated number of days in the operating cycle.

Question

Anne's Antiques Shop reported the following income statement and balance sheet for 2013:   a) Determine the inventory turnover and the average number of days to sell its inventory.
b) Determine the accounts receivable turnover and the average number of days it takes to collect accounts receivable.
c) Determine the estimated number of days in the operating cycle.

Quizplus · Accepted Answer

The Answer of Anne's Antiques Shop reported the following income statement and balance sheet for 2013:   a) Determine the inventory turnover and the average number of days to sell its inventory.
b) Determine the accounts receivable turnover and the average number of days it takes to collect accounts receivable.
c) Determine the estimated number of days in the operating cycle.

Anne's Antiques Shop Reported the Following Income Statement and Balance