You are analyzing two companies that manufacture electronictoys—Like Games Inc. and Our Play Inc. Like Games was launchedeight years ago, whereas Our Play is a relatively new company thathas been in operation for only the past two years. However, bothcompanies have an equal market share with sales of $300,000 each.You’ve collected company data to compare Like Games and Our Play.Last year, the average sales for all industry competitors was$765,000. As an analyst, you want to make comments on the expectedperformance of these two companies in the coming year. You’vecollected data from the companies’ financial statements. Thisinformation is listed as follows: (Note: Assume there are 365 daysin a year.)

Data Collected (in dollars)

	Like Games	Our Play	Industry Average
Accounts receivable	8,100	11,700	11,550
Net fixed assets	165,000	240,000	650,250
Total assets	285,000	375,000	703,800

Using this information, complete the following statements toinclude in your analysis.

1.	Our Play has   days of sales tied up in receivables,which is much   than the industry average. It takes OurPlay   time to collect cash from its customers than ittakes Like Games.
2.	Like Games’s fixed assets turnover ratio is   thanthat of Our Play. This is because Like Games was formed eight yearsago, so the acquisition cost of its fixed assets is recorded athistoric values when the company bought its assets and has beendepreciated since then. Assuming that fixed assets prices (not bookvalues) rose over the past six years due to inflation, Our Playpaid a   amount for its fixed assets.
3.	The average total assets turnover in the electronic toysindustry is     , which means that     of sales is being generated with every dollar ofinvestment in assets. A   total assets turnover ratioindicates greater efficiency. Both companies’ total assets turnoverratios are   than the industry average.