question archive The 2021 income statement of Anderson Medical Supply Company reported net sales of $12 million, cost of goods sold of $6
The 2021 income statement of Anderson Medical Supply Company reported net sales of $12 million, cost of goods sold of $6
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The 2021 income statement of Anderson Medical Supply Company reported net sales of $12 million, cost of goods sold of $6.2 million, and net income of $870,000. The following table shows the company's comparative balance sheets for 2021 and 2020: ($ thousands) 2021 2020 $580 980 1.600 3,800 $6.960 5 660 640 1,010 3.520 55,830 Assets Cash Accounts receivable Javentory Property, plant, and equipment (net Total asseta Liabilities and shareholders' equity Current liabilities Bonds payable Common stock retained earnings Total 1L abilities and shareholders equity 51.240 2.900 2,400 1.420 56,960 51.110 1.900 2,400 420 55.830 Required: 1. Calculate Anderson's turnover ratios for 2021 (Use 365 days a year. Round your answers to 2 decimal places.) Answer is complete but not entirely correct. Inventory turnover rato Receivablos turnover rato Average collection period Asset turnover ratio 388 3 mes 12.50 imes 20.20 days 1.72 times in thousands 2021 2020 580 980 600 3.800 $6.960 660 640 2010 32920 $5830 Assets wash Accounts receivable en LOEY exoperty plant and equipment ineus www.wasses mabuties and shareholders equity Owen abilities Bonde payable COTLOOK Revanedanings buities and shareholders equLLY $240 900 2 400 1420 S&960 S110 1900 2400 20 SSV 830
