PROBLEM IIIRay Co.'s net accounts receivable were $500,000 at December 31, 2016 and $600,000 at December 31, 2017.Net cash sales for 2017 were $200,000. The accounts receivable turnover for 2017 was 5.0. What were Raytotal net sales for 2017?PROBLEM IVLast year, Quayle Energy had sales of $200 million and its inventory turnover ratio was 5.0. The company's current assetstotaled $100 million and its current ratio was 1.2. What was the company's quick ratio?

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Ray Co.'s net accounts receivable were $500,000 at December 31, 2016 and $600,000 at December 31, 2017. Net cash sales for 2017 were $200,000. The accounts receivable turnover for 2017 was 5.0. What were Ray total net sales for 2017?

Ray Co.'s net accounts receivable were $500,000 at December 31, 2016 and $600,000 at December 31, 2017. Net cash sales for 2017 were $200,000. The accounts receivable turnover for 2017 was 5.0. What were Ray total net sales for 2017?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 3P

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