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In: Accounting

GS&H had the following information on its financial statements for the fiscal years ended December 31....

GS&H had the following information on its financial statements for the fiscal years ended December 31. All figures are in millions of Canadian dollars.
2023 2022 2021 2020
Current assets $1,646 $5,928 $3,852 $1,435
Current liabilities 629 2,181 1,276 980
Net sales 3,976 10,333 5,776 4,455
Accounts receivable - gross 1,410 970 758 586
Allowance for doubtful accounts 168 34 17 14
Your answer is partially correct. Try again.

Calculate the following for the company:

(1) current ratio for 2020 through 2023
(2) receivable turnover ratio for 2021 through 2023
(3) average collection period for 2021 through 2023.

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Expert Solution

ekkarill92 answered 1 year ago
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