XYZ's receivables turnover is 10x. The accounts receivable at yearend are $600,000. The average collection period is 90 days (3 months). What was the sales figure for the year? A firm has total assets of $2,000,000. It has $900,000 in longterm debt. The stockholders equity is $900,000. What is the total debt to asset ratio? A firm has a debt to equity ratio of 50%, debt of $300,000, and net income of $90,000. The return on equity is A firm has beginning inventory of 300 units at a cost of $11 each. Production during the period was 650 units at $12 each. If sales were 700 units, what is the cost of goods sold (assume FIFO)? A firm has forecasted sales of $3,000 in April, $4,500 in May and $6,500 in June. All sales are on credit. 30% is collected the month of sale and the remainder the following month. What will be balance in accounts receivable at the beginning of July?