Question
The following information was contained in the financial statements of the Quercus Corporation, which started business...
The following information was contained in the financial statements of the Quercus Corporation, which started business January 1, 2017 (only accounts at the start were Cash and Common Stock). All amounts are in thousands of dollars.
2019 2020 2021 2022
A/R (term, n/30) $110 $92 $88 $84
Inventory $132 $124 $140 $128
Net Sales (3/4 on credit) $320 $466 $480 $500
Cost of Goods Sold $248 $340 $355 $362
Net Income (Loss) $20 $26 $32 $43
REQUIRED: Complete the following table for Quercus Corporation. Carry out all work 5 decimal places before converting to percentages.
2020 2021 2022
Times A/R Turnover
Average Days to Collect A/R
Gross Profit %
Times Inventory Turnover
Net Profit %
Days on the shelf
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