The following financial information is for annapolis corporation are for the fiscal years ending 2019 & 2018 (all balances are normal):

item/account 2019 2018 accounts receivable $36,000 $34,000 inventory 42,000 38,000 net sales (all credit) 310,000 350,000 cost of goods sold 154,000 152,000 net income 27,200 24,800

use this information to determine the accounts receivable average collection period for fy 2019. (use 365 day year. round your answers to one decimal place.)

Miller mfg. is analyzing a proposed project. the company expects to sell 8,000 units, plus or minus 2 percent. the expected variable cost per unit is $11 and the expected fixed costs are $287,000. the fixed and variable cost estimates are considered accurate within a plus or minus 5 percent range. the depreciation expense is $68,000. the tax rate is 32 percent. the sales price is estimated at $64 a unit, plus or minus 3 percent. what is the earnings before interest and taxes under the base case scenario?

Grey company holds an overdue note receivable of $800,000 plus recorded accrued interest of $64,000. the effective interest rate is 8%. as the result of a court-imposed settlement on december 31, year 3, grey agreed to the following restructuring arrangement: reduced the principal obligation to $600,000.forgave the $64,000 accrued interest.extended the maturity date to december 31, year 5.annual interest of $40,000 is to be paid to grey on december 31, year 4 and year 5. the present value of the interest and principal payments to be received by grey company discounted for two years at 8% is $585,734. grey does not elect the fair value option for reporting the debt modification. on december 31, year 3, grey would recognize a valuation allowance for impaired loans of

Why should managers invest any excess cash