Q2. (15 marks) The following data were taken from the financial records of Pulchritude Company (known for selling beautiful wares!): A/R at December 31, 2013 A/R at December 31, 2014 $ 900,000 $1,000,000 A/R turnover 5 to 1 – $1,100,000 $1,200,000 Inventories at December 31, 2013 Inventories at December 31, 2014 Inventory turnover Required: 4 to 1 a. What was Pulchritude's gross profit for 2014? (7 marks) 0. Suppose that there are 360 business days in the year. Determine the number of A/R days and Inventory days. (8 marks)

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