Computing Activity Ratios Selected balance sheet and income statement information follows for R.A. Corporation.   R.A. Corporation $ millions April 2, 2020 March 28, 2019 Income statement information: Sales $20,967 $22,353 Cost of goods sold 9,654 9,726 Balance sheet information: Accounts receivable, gross 2,313 2,718 Inventory 3,375 3,126 Accounts payable 468 630   Required  Compute the following ratios for its fiscal year ended April 2, 2020.   Round your answers to two decimal places (for example, enter 20.46 for 20.4555558). a. Accounts receivable turnover Answer   b. Average days to collect receivables Answer   c. Inventory turnover Answer   d. Average days in inventory Answer   e. Accounts payable turnover Answer   f. Average days payable outstanding Answer   g. Cash conversion cycle Answer

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Computing Activity Ratios

Selected balance sheet and income statement information follows for R.A. Corporation.

 

R.A. Corporation
$ millions April 2, 2020 March 28, 2019
Income statement information:
Sales $20,967 $22,353
Cost of goods sold 9,654 9,726
Balance sheet information:
Accounts receivable, gross 2,313 2,718
Inventory 3,375 3,126
Accounts payable 468 630

 

Required 

Compute the following ratios for its fiscal year ended April 2, 2020.

 

  • Round your answers to two decimal places (for example, enter 20.46 for 20.4555558).
a. Accounts receivable turnover Answer
 
b. Average days to collect receivables Answer
 
c. Inventory turnover Answer
 
d. Average days in inventory Answer
 
e. Accounts payable turnover Answer
 
f. Average days payable outstanding Answer
 
g. Cash conversion cycle Answer
 
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