The following financial information is for Alpha Corporation are for the fiscal years ending 2017 & 2016 (all balances are normal): Item/Account 2017 2016 Cash $26,000 $16,000
7. The following financial information is for Alpha Corporation are for the fiscal years ending 2017 &
2016 (all balances are normal):
| Item/Account | 2017 | 2016 |
| Cash | $26,000 | $16,000 |
| Accounts Receivable | 40,000 | 50,000 |
| Inventory | 30,000 | 22,000 |
| Current Liabilities | 76,000 | 42,000 |
| Net Sales (all credit) | 390,000 | 360,000 |
| Cost of Goods Sold | 260,000 | 250,000 |
Use this information to determine for FY 2017: (Round & enter your answers to one decimal place and enter the value.) show work!
1. the Accounts Receivable turnover ratio
2. Average Accounts Receivable collection period
3. Gross Profit Margin
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