Selected Recent Balance Sheet and Income Statement Information for Shepherd

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The Answer is A. 2016 ART = $15,643 / $1,530 = 10.22
2015 ART = $15,128 / $1,370 = 11.04
Accounts receivable turnover has worsened slightly during the year. The company collects its receivables balance 10.22 times in 2016 compared to collection of 11.04 times in 2015.
B. 2016 INVT = $12,508 / $130 = 96.22
2015 INVT = $12,015 / $124 = 96.90
Inventory turnover is strong and has just slightly decreased during the year. The company sold its entire inventory cost over 96 times each year.

Selected Recent Balance Sheet and Income Statement Information for Shepherd

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Selected Recent Balance Sheet and Income Statement Information for Shepherd

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Correct Answer:VerifiedShow Answer

Correct Answer:
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