https://file.aiquickdraw.com/mathbot/file/17262779169640jmqjom9.jpg

Let's go over both questions from the image.

### Question 3:
The question asks to calculate how many days, on average, it took Fullerton Company to collect an outstanding receivable during Year 2. 

This is done by calculating the **days sales outstanding (DSO)**, using the following formula:

\[
\text{DSO} = \left( \frac{\text{Accounts Receivable (net)}}{\text{Net Sales}} \right) \times 365
\]

For Year 2:
- **Accounts Receivable (net)** = $13,500 million
- **Net Sales** = $90,000 million

Substituting into the formula:

\[
\text{DSO} = \left( \frac{13,500}{90,000} \right) \times 365
\]

Let's calculate it:

\[
\text{DSO} = 0.15 \times 365 = 54.75 \, \text{days}
\]

So, the closest answer is **54.8 days**.

### Question 4:
The question asks to calculate the **asset turnover**, which is calculated by the following formula:

\[
\text{Asset Turnover} = \frac{\text{Net Sales}}{\text{Total Assets}}
\]

Given values:
- **Net Sales** = $84,000
- **Total Assets** = $59,400

Substituting into the formula:

\[
\text{Asset Turnover} = \frac{84,000}{59,400}
\]

Let's calculate it:

\[
\text{Asset Turnover} = 1.41
\]

So, the correct answer is **1.41**.

---

### Summary:
- **Question 3**: Answer is **54.8 days**.
- **Question 4**: Answer is **1.41**.

Would you like further details or explanations? Here are five related questions:
1. What is the significance of Days Sales Outstanding (DSO)?
2. How can a company reduce its Days Sales Outstanding?
3. What does a high asset turnover ratio indicate about a company?
4. How does asset turnover relate to a company's efficiency?
5. What are some strategies companies can use to improve asset turnover?

**Tip**: Days Sales Outstanding is an important measure of a company's liquidity. Lower values suggest quicker collection of receivables.

How many days, on average, did it take the company to collect an outstanding receivable during Year 2? What is the company's asset turnover?

Learn how to calculate Days Sales Outstanding (DSO) and Asset Turnover for Fullerton Company using real financial data. This guide provides a detailed solution for students studying financial accounting and covers key accounting ratios.

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