Financial Data

Use the financial data below to calculate the following ratios:
a. Accounts receivable turnover
b. Days’ sales uncollected
c. Inventory turnover
d. Days’ sales in inventory


Income statement data
Sales (all on credit) $650,000
Cost of goods sold 425,000
Income turnover 78,000
Net income 54,600

Ending Beginning
Balances Balances
Cash $ 19,500 $ 15,000
Accounts receivable (net) 65,000 60,000
Inventory 71,500 64,500
Plant and equipment (net) 195,000 183,900
Total assets $351,000 $323,400

Current liabilities $62,400
Long-term notes payable $ 97,500