1. A company has net income of $188,000, a profit margin of 9.90 percent, and an accounts receivable balance of $106,290. Assuming 70 percent of sales are on credit, what is the company's days' sales in receivables?

a) 8.76 days

b) 30.64 days

c) 29.19 days

d) 39.09 days

e) 20.43 days

2. The Ashwood Company has a long-term debt ratio of 0.30 and a current ratio of 1.40. Current liabilities are $930, sales are $5,165, profit margin is 9.50 percent, and ROE is 16.50 percent. What is the amount of the firm's net fixed assets?

a) $2,204.48

b) $3,717.23

c) $3,876.27

d) $1,274.48

e) $5,178.27