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Business, 17.12.2019 04:31 peno211

Excerpts from dowling company's december 31, 2018 and 2017, financial statements and key ratios are presented below (all numbers are in millions): 2018 2017accounts receivable (net) $ 20 $ 16net sales $ 115 100cost of goods sold 60 55net income 20 17inventory turnover 5.22return on assets 10.3 %equity multiple 2.36dowling's average inventory balance for 2018 is (rounded):
(a) 11.(b) 12.5.(c) 12.(d) 11.5.

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