Condensed financial data are presented below for the Phoenix Corporation: 20x2 $ 267,500 312,500 670,000 50,000 825,000 252,500 77,500 1,640,000 982,500 10,000 77,500 127,500 71,000 (6,000) 20X1 $230,000 257,500 565,000 60,000 695,000 200,000 75,000 Accounts receivable Inventory Total current assets Intangible assets Total assets Current liabilities Long-term liabilities Sales Cost of goods sold Interest expense Income tax expense Net income Cash flow from operations Cash flow from investing activities Cash flow from financing activities Tax rate (62,500) 304 In a common size balance sheet for 20x2, accounts receivable is expressed as: Multiple Choice a. 16.3% b. 6% c. 32.4%
d. 116.3%
