The following balance sheet information was provided by Paino Company:
- Assets 2012 2011
- Cash 2,000 $1,500
- A/R $ 13,000 $11,000
- Inventory $ 20,000 $21,000
a. Assuming net credit sales totaled $145,000, what is the company's accounts receivable turnover for 2012?
b. Assuming net credit sales totaled $145,000, what was the company's average number of days to collect receivables in 2012?
c. Assuming cost of goods sold is $110,000, what is the company's inventory turnover in 2012?