Question 8 of 12 < D Cullumber Company Balance Sheets December 31 2025 2024 Cash $19,500...

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Question 8 of 12 < D Cullumber Company Balance Sheets December 31 2025 2024 Cash $19,500 $39,000 Accounts receivable (net) 75,000 54,000 Inventory 61,000 48,000 Plant assets (net) 240,000 230,000 $395,500 $371,000 Accounts payable $73,500 $95,000 Bonds payable (15%) 110,000 110,000 Common stock, $10 par 158,000 126,000 Retained earnings 54,000 40,000 $395,500 $371,000 Additional information for 2025: 1. Net income was $24,500. 2. Sales on account were $360,000. Sales returns and allowances amounted to $22,000. 3. Cost of goods sold was $210,000. 4. Net cash provided by operating activities was $52,000. 5. Capital expenditures were $15,000, and cash dividends paid were $10,500. 6. The bonds payable are due in 2038. 0/1 E! Compute the following ratios at December 31, 2025. (Round current ratio and inventory turnover to 2 decimal places, e.g. 1.83 and all other answers to 1 decimal place, e.g. 1.8. Use 365 days for calculation.) a. Current ratio b. Accounts receivable turnover C. Average collection period P d. Inventory turnover e. Days in inventory f. Free cash flow eTextbook and Media Save for Later A 3.2 :1 5.8 times 62.9 days 3.50 times 104.3 days 19,500 Attempts: 1 of 2 used Submit Answer Question 8 of 12 < D Cullumber Company Balance Sheets December 31 2025 2024 Cash $19,500 $39,000 Accounts receivable (net) 75,000 54,000 Inventory 61,000 48,000 Plant assets (net) 240,000 230,000 $395,500 $371,000 Accounts payable $73,500 $95,000 Bonds payable (15%) 110,000 110,000 Common stock, $10 par 158,000 126,000 Retained earnings 54,000 40,000 $395,500 $371,000 Additional information for 2025: 1. Net income was $24,500. 2. Sales on account were $360,000. Sales returns and allowances amounted to $22,000. 3. Cost of goods sold was $210,000. 4. Net cash provided by operating activities was $52,000. 5. Capital expenditures were $15,000, and cash dividends paid were $10,500. 6. The bonds payable are due in 2038. 0/1 E! Compute the following ratios at December 31, 2025. (Round current ratio and inventory turnover to 2 decimal places, e.g. 1.83 and all other answers to 1 decimal place, e.g. 1.8. Use 365 days for calculation.) a. Current ratio b. Accounts receivable turnover C. Average collection period P d. Inventory turnover e. Days in inventory f. Free cash flow eTextbook and Media Save for Later A 3.2 :1 5.8 times 62.9 days 3.50 times 104.3 days 19,500 Attempts: 1 of 2 used Submit Answer