Smith and Sons, Inc. Income Statement (in millions) 2016 2015 Net sales 10,500 10,000 Cost of goods sold (5,500) (5,200) Gross profit 5,000 4,800 Selling and administrative expenses (2,800) (2,700) Income from operations 2,200 2,100 Interest expense (300) (250) Income before income taxes 1,900 1,850 Income tax expense (420) (400) Net income 1,480 1,450

How to calculate the total outstanding receivables?? For example if at the Dec 31 2013, total sales on account and invoiced during the year, the account receivable balance outstanding at the year end, the date when the invoice was issued and the date when the invoice was paid off was given!

What was H&R Block's Current Ratio for year ending APR. 30, 20118? Carry your answer to two decimal points.

Use the following financial statement information from Black Water Industries. BLACK WATER INDUSTRIES Ending Accounts Receivable Year Net Credit Sales 2017 $690,430 $335,250 2018 705,290 364,450 2019 770,500 406,650 A. Compute the accounts receivable turnover ratios for 2018 and 2019. Round your answers to two decimal places. 2018 times 2019 times B. Using the accounts receivable turnover, choose the statement that most closely describes the company's management of its receivables. a. The company's lending policies may be too strict. b. Collection efforts are not aggressive enough. There may be uncollectable receivables affecting the beginning and ending C. balances. d. All of the above statements may be correct. a b d

Please answers parts 4,5, and 6. I have the first three already

Accounting Question

Guinea C. Company is preparing trend percentages for its service fees earned for the period 2013 through 2017. The base year is 2013. The 2016 trend percentage is computed as:   Question 23 options:   A)  2016 service fees earned divided by 2012 service fees earned   B)  2015 service fees earned divided by 2016 service fees earned   C)  2016 service fees earned divided by 2013 service fees earned   D)  2013 service fees earned divided by 2016 service fees earned

Suppose the 2022 financial statements of 3M Company report net sales of $23.1 billion. Accounts receivable (net) are $3.2 billion at the beginning of the year and $3.25 billion at the end of the year.    Compute 3M’s accounts receivable turnover. - Accounts Recievable turnover ratio=? (times)   Compute 3M’s average collection period for accounts receivable in days  - Average collection period =? (days)

F. Based on Baker’s account balances, the amount of Net Income that would be shown on Baker’s Income Statement for December 2017 would be:

Winterwear Clothiers reported the following selected items at April 30, 2025 (last year's-2024-amounts also given as needed): View the financial data. Compute Winterwear Clothiers' (a) acid-test ratio, (b) accounts receivable turnover ratio, and (c) days' sales in receivables for the year ending April 30, 2025. Evaluate each ratio value as strong or weak. Winterwear Clothiers sells on terms of net 30. (Round days' sales in receivables to a whole number.) (Ignore leap-years, using a 365-day where needed.) (a) Compute Winterwear Clothiers' acid-test ratio. (Round your final answer to two decimal places. Abbreviation used: Avg. = Average; Invest. = Investment; Liab. = Liabilities; Merch. = Merchandise; Receiv. = Receivable; Rev. = Revenue.) + + + + Financial Data = Acid-test ratio = Accounts Payable 320,000 Accounts Receivable, net: Cash 260,000 April 30, 2025 $ 270,000 Merchandise Inventory: April 30, 2024 170,000 April 30, 2025 290,000 Cost of Goods Sold 1,150,000 April 30, 2024 200,000…