MARNI COMPANY Balance Sheet As of December 31 ASSETS Cash $ 50,000 Accounts receivable 100,000 Inventory 200,000 Net plant and equipment 650,000 Total assets $ 1,000,000 LIABILITIES AND STOCKHOLDERS’ EQUITY Accounts payable $ 100,000 Accrued expenses 90,000 Long-term debt 250,000 Common stock 100,000 Paid-in capital 50,000 Retained earnings 410,000 Total liabilities and stockholders’ equity $ 1,000,000 MARNI COMPANY Income Statement For the year ended December 31 Sales (all on credit) $ 2,000,000 Cost of goods sold 1,750,000 Gross profit $ 250,000 Sales and administrative expenses 30,000 Fixed lease expenses 10,000 Depreciation 60,000 Operating profit $ 150,000 Interest expense 25,000 Profit before taxes $ 125,000 Taxes (40%) 50,000 Net income $ 75,000 Refer to the tables above. The firm's average collection period is, assuming a 360-day calendar. 5.6 days. 20 days. 277 days. 18 days.

58 days

Explanation:

The computation of the average collection period is shown below:

Average collection period = Total number of days in a year  ÷ (Sales ÷  Average receivable)

= 360 days ÷  ($500,000 ÷ $80,000)

= 57.6 days

= 58 days

The average receivable is come by dividing the sales from the account receivable

We simply applied the above formula so that the average collection period could come

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answerinsider trading

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi