Mackinac Financial (Mackinac Financial) Accounts Receivable : $0.00 Mil (As of Jun. 2021)

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What is Mackinac Financial Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Mackinac Financial's accounts receivables for the quarter that ended in Jun. 2021 was $0.00 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Mackinac Financial's Days Sales Outstanding for the quarter that ended in Jun. 2021 was 0.00.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Mackinac Financial's Net-Net Working Capital per share for the quarter that ended in Jun. 2021 was $-85.42.

Mackinac Financial Accounts Receivable Historical Data

The historical data trend for Mackinac Financial's Accounts Receivable can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Mackinac Financial Accounts Receivable Chart

Mackinac Financial Annual Data

Trend

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Accounts Receivable

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Mackinac Financial Quarterly Data
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Mackinac Financial Accounts Receivable Calculation

Accounts Receivable is money owed to a business by customers and shown on its Balance Sheet as an asset.

Mackinac Financial Accounts Receivable Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed.

Mackinac Financial's Days Sales Outstanding for the quarter that ended in Jun. 2021 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	0	/	15.271	*	91
=	0.00

2. In Ben Graham's calculation of Net-Net Working Capital (NNWC), Mackinac Financial's accounts receivable are only considered to be worth 75% of book value:

Mackinac Financial's Net-Net Working Capital Per Share for the quarter that ended in Jun. 2021 is calculated as:

	Net-Net Working Capital Per Share
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(445.818	+	0.75 * 0	+	0.5 * 0	-	1347.033
-	0	-	0)	/	10.5504
=	-85.42

Be Aware

Net receivables tells us a great deal about the different competitors in the same industry. In competitive industries, some attempt to gain advantage by offering better credit terms, causing increase in sales and receivables.

If company consistently shows lower % Net receivables to gross sales than competitors, then it usually has some kind of competitive advantage which requires further digging.

Average Days Sales Outstanding is a good indicator for measuring a company's sales channel and customers. A company may book great revenue and earnings growth but never receive payment from their customers. This may force a write-off in the future and depress future earnings.

Mackinac Financial Accounts Receivable Related Terms

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Mackinac Financial (Mackinac Financial) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Mackinac Financial Corp (NAS:MFNC) » Definitions » Accounts Receivable

Comparable Companies

Traded in Other Exchanges

N/A

Address

130 South Cedar Street, Manistique, MI, USA, 49854

Website

http://www.bankmbank.com

Mackinac Financial Corp is a bank holding company. It is engaged in the business of retail and commercial banking. Its products and services include checking and savings accounts, time deposits, interest-bearing transaction accounts, safe deposit facilities, commercial and governmental lease financing and direct, indirect consumer financing, commercial lending, treasury management products, services for small to mid-sized businesses as well as full array of personal and business deposit products and consumer loans. It earns revenue from loans, investments and other interest-bearing assets.

Executives

Paul Davison Tobias	director, officer: Chief Executive Officer	38710 WOODWARD AVENUE, SUITE 240, BLOOMFIELD HILLS MI 48304
Jesse A Deering	officer: EVP and CFO	260 EAST BROWN ST. SUITE 300 BIRMINGHAM MI 48009
Kelly W George	director, officer: President	130 SOUTH CEDAR STREET MANISTIQUE MI 49854
Martin A Thomson	director
Randolph Clare Paschke	director	5700 CASS AVENUE DETROIT MI 48202
Walter J Aspatore	director	255 E BROWN STREET, SUITE 120, BIRMINGHAM MI 48009
Dennis Bittner	director	113 S 10TH ST ESCANADA MI 49829
Steinhardt Capital Management, Llc	10 percent owner	650 MADISON AVENUE, 17TH FLOOR NEW YORK NY 10022
David Russ Steinhardt	director, 10 percent owner	650 MADISON AVENUE, 17TH FLOOR NEW YORK NY 10022
Steinhardt Capital Investors, Lllp	10 percent owner	650 MADISON AVENUE, 17TH FLOOR NEW YORK NY 10022
Mahaney Robert Edward Ii	director	989 WEST WASHINGTON STREET SUITE 102 MARQUETTE MI 49855
Joseph D Garea	director	469 NORTH HANLEY ROAD ST. LOUIS MO 63013
Robert Harris Orley	director	25251 RIVER DRIVE FRANKLIN MI 48025
Lewis Brooks Patterson	director	130 SOUTH CEDAR STREET MANISTIQUE MI 49854
Ernie R Krueger	officer: Executive VP and CFO	130 SOUTH CEDAR STREET MANISTIQUE MI 49854