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Selected financial statement data for Oran Company are presented below.December 31, 2021December 31, ...

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Selected financial statement data for Oran Company are presented below.December 31, 2021December 31, ...

Selected financial statement data for Oran Company are presented below.

December 31, 2021

December 31, 2020

Cash	$ 40,000	$ 30,000
Short-term investments	25,000	18,000
Receivables (net)	100,000	80,000
Inventories	85,000	65,000
Total current liabilities	100,000	90,000

During 2021, net sales were $950,000, and cost of goods sold was $775,000.

Required:

a.	Compute the following ratios at December 31, 2021:

(1)	Current ratio

(2)	Acid-test ratio

(3)	Average collection period

(4)	Average days to sell inventory

b.	Assume credit terms are 2/10, net 30. What conclusion could an analyst draw about

the management of accounts receivable?

Textbook

Managerial Accounting

Edition: 4^th

Author: Davis

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Thanks

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Just got PERFECT on my quiz

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You make an excellent tutor!

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