Vanity Press, Inc. has annual sales of 1,600,000 ( asume allsales are

QUESTION

Vanity Press, Inc. has annual sales of 1,600,000 ( asume allsales are on credit) and a gross profit margin 05 35 percent.a) If the firm wishes to maintain an average collection periodof 50days, what level of accounts receivable should it carry?(Assume a 365-day year).b) The inventory turnover for th
Pacific Fixtures lists the following accounts as part of itsbalance sheet.TotalAssests 1,0000,000Accountspayables 2,000,000NotesPayables (8%) 1,000,000Long Term Debt(10%) 3,000,000Common Stock atPar 1,000,000Contributed capital in excess ofpar 500,000Reatinedearnings 2,500,000 Total Liablilties and

olderssequitry 10,000,000Compute the return on stockholders equity if the company hassales of $20 million and the following net profit million and thefollowing net profit margin:a) 3 percentb) 5 percent

ANSWER:

CLICK REQUEST FOR  AN EXPERT SOLUTION