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| Teaching Since: | May 2017 |
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| Questions Answered: | 66690 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Corona Company's balance sheet accounts follow:
| At December 31 | 2014 | 2013 | 2012 |
| Assets | |||
| Cash | $65,787 | $71,101 | $71,139 |
| Accounts receivable, net | 117,953 | 93,933 | 81,109 |
| Merchandise inventory | 135,039 | 113,429 | 86,052 |
| Prepaid expenses | 48,249 | 48,037 | 43,386 |
| Plant assets, net | 281,773 | 258,870 | 239,499 |
| Total assets |
$648,801 |
$585,370 |
$521,185 |
| Liabilities and Equity | |||
| Accounts payable | $168,896 | $127,973 | $101,825 |
| Long-term notes payable secured by mortgages on plant assets | 146,629 | 148,657 | 130,005 |
| Common stock, $10 par value | 181,500 | 181,500 | 181,500 |
| Retained earnings | 151,776 | 127,240 | 107,855 |
| Total liabilities and equity |
$648,801 |
$585,370 |
$521,185 |
|
What is Corona Company's days' sales in inventory ratio for 2014, assuming net sales and gross profit for the period were $1,706,786, $1,122,812 respectively? |
| 73.72 | |
| 58.71 | |
| 84.40 | |
| 53.78 | |
| 70.90 |
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