### Discuss income statement information for posad company

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##### Reference no: EM131757652

Operating Asset Management Analysis

Partial comparative balance sheet and income statement information for Posad Company is as follows:

 2014 2013 Cash \$ 13,600 \$ 10,400 Marketable securities 7,200 17,200 Accounts receivable (net) 44,800 35,600 Inventory 54,400 49,600 Total current assets \$120,000 \$112,800 Accounts payable \$ 40,000 \$ 28,200 Net sales \$322,560 \$220,720 Cost of goods sold 217,600 203,360 Gross margin \$104,960 \$ 17,360

In 2012, the year-end balances for Accounts Receivable and Inventory were \$32,400 and \$51,200, respectively. Accounts Payable was \$30,600 in 2012 and is the only current liability.

Compute the current ratio, quick ratio, receivables turnover, days' sales uncollected, inventory turnover, days' inventory on hand, payables turnover, days' payable for each year, and financing period. Assume 365 days in a year. Round your answers to one decimal place

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