Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below: ...
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Accounting
Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below:
2021 2020 Accounts receivable $ 29,500 $ 45,000 Inventory 38,000 42,000 Net sales (all credit) 199,000 198,000 Cost of goods sold 125,000 110,000 Total assets 431,000 408,000 Total stockholders' equity 245,000 227,000 Net income 39,500 38,000
Stealth Company's 2021 receivables turnover ratio is:
Multiple Choice -
5.34 times.
-
6.73 times.
-
14.61 times.
-
4.24 times.
Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below:
| 2021 | 2020 | |||
| Accounts receivable | $ | 29,500 | $ | 45,000 |
| Inventory | 38,000 | 42,000 | ||
| Net sales (all credit) | 199,000 | 198,000 | ||
| Cost of goods sold | 125,000 | 110,000 | ||
| Total assets | 431,000 | 408,000 | ||
| Total stockholders' equity | 245,000 | 227,000 | ||
| Net income | 39,500 | 38,000 | ||
Stealth Company's 2021 receivables turnover ratio is:
Multiple Choice
5.34 times.
6.73 times.
14.61 times.
4.24 times.
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