Calculator Financial statement data for the years ended December 31 for Parker Corporation are as...
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Calculator Financial statement data for the years ended December 31 for Parker Corporation are as follows: Current Year $2,595,600 Prior Year $2,409,500 Sales Accounts receivable: Beginning of the year End of the year $390,000 434,000 $400,000 390,000 a. Determine the accounts receivable turnover for each year. Round your answers to one decimal place. Accounts Receivable Turnover Current Year 865,200 times Prior Year 860535 times b. Determine the number of days sales in receivables for each year. Round your answers to nearest day. Assume 365 days per year. Number of Days' Sales in Receivables days Current Year days Prior Year c. Does the change in accounts receivable turnover and number of days' sales in receivables from the first year to the second year indicate a favorable or unfavorable trend
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