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Business, 20.04.2021 20:10 samtrevino9921

Given the following information for Blue Bell Company for last year: Net sales (all on account) $5,200,000 Cost of goods sold 2,080,000 Interest expense 240,000 Income tax expense 280,000 Net income 420,000 Income tax rate 40% Total assets: January 1 $1,800,000 December 31 2,400,000 Shareholders' equity (all common): January 1 1,500,000 December 31 1,600,000 Current assets, December 31 700,000 Quick assets, December 31 400,000 Current liabilities, December 31 300,000 Net accounts receivable: January 1 200,000 December 31 180,000 Inventory: January 1 210,000 December 31 250,000 Refer to Exhibit 4-1. Blue Bell's accounts receivable turnover for the year was

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