Need PR 14-4A with #5. number of days sales in receivables must be 18.3. Issued

Question

Need PR 14-4A with #5. number of days sales in receivables must be 18.3.

Issued additional shares of stock for cash, $600,000. Paid cash for prepaid expenses, $10,000 i. J. Obj. 3,4,5 market price of PR 14-4A Measures of liquidity, solvency, and profitability S. Number of days' The comparative financial statements of Marshall Inc. sales in receivables, 18.3 Marshall common stock was $82.60 on December 31, 20Y2. e comparative financial statements of Marshall Inc. are as follows. The Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 EXCEL TEMPLATE Retained earnings, January 1····· Net income Total Dividends: $3,704,000 $3,264,000 600,000550,000 .$4,304,000 $3,814,000 s 10,000 10,000 100,000 110,000 110,000 $4,194,000 $3,704,000 On preferred stock 100,000 Retained earnings, December 31.

Explanation / Answer

5 Number of days sales in receivables=Average accounts receivable/Average sales per day Average sales per day=Annual sales/365=10850000/365=29726.03 Average accounts receivable=(Beginning balance of accounts receivable+Ending balance of accounts receivable)/2=(500000+585000)/2=542500 Number of days sales in receivables=542500/29726.03=18.25=18.3 times

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