Based on the provided information in the attached image, please calculate the following simpe equations; (It's super simple, just tiny simple mathematical calculations that should take only 2 minutes, I'm just lost with the wording...)Average collection period, = Days to sell inventory, = Accounts payable payment period, =Amborse's cash-to-cash cycle, =The company's bank loan = 20202019Sales$5,032,000$4,573,000Cost of goods sold2,214,0802,012,120Accounts receivable631,890527,210Inventory829,600735,420Accounts payable188,350214,410Total assets1,885,5101,808,030Ambroise is a distributor of auto parts operating in eastern Ontario that offers 30-day terms and has all sales on credit. Thecompany has a large inventory due to the number of parts it stocks for different makes and models of cars. Most of its suppliersoffer terms of 30 days, and Ambroise tries to stay on good terms with its suppliers by paying on time.

“Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Answered: 2020 2019 Sales $5,032,000 $4,573,000…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Question

Based on the provided information in the attached image, please calculate the following simpe equations; (It's super simple, just tiny simple mathematical calculations that should take only 2 minutes, I'm just lost with the wording...)

Average collection period, =

Days to sell inventory, =

Accounts payable payment period, =

Amborse's cash-to-cash cycle, =

The company's bank loan =

2020
2019
Sales
$5,032,000
$4,573,000
Cost of goods sold
2,214,080
2,012,120
Accounts receivable
631,890
527,210
Inventory
829,600
735,420
Accounts payable
188,350
214,410
Total assets
1,885,510
1,808,030
Ambroise is a distributor of auto parts operating in eastern Ontario that offers 30-day terms and has all sales on credit. The
company has a large inventory due to the number of parts it stocks for different makes and models of cars. Most of its suppliers
offer terms of 30 days, and Ambroise tries to stay on good terms with its suppliers by paying on time.

Expert Solution

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions