Armada Company has these comparative balance sheet data:

Additional information for 2010:
1. Net income was $25,000.
2. Sales on account were $375,000. Sales returns and allowances amounted to $25,000.
3. Cost of goods sold was $198,000.
4. Net cash provided by operating activities was $48,000.
5. Capital expenditures were $25,000, and cash dividends were $18,000.
Instructions
Compute the following ratios at December 31, 2010.
(a) Current
(b) Receivables turnover.
(c) Average collection period.
(d) Inventory turnover.
(e) Days in inventory.
(f ) Cash debt coverage.
(g) Current cash debt coverage.
(h) Free cash flow.

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ARMADA COMPANY Balance Sheets 31-Dec Particulars 2010 2009 25,000 $ 65,000 $ 60,000 $ 200,000 $ 180,000 352,010 $ 322,009 50,000 $ 100,000 $ 140,000 $ 120,000 60,000 $ 350,000 $ 320,000 Cash 30,000 Receivables (net) 60,000 Inventories 50,000 Plant assets (net) Accounts payable Mortgage payable (15%) Common stock $10 par 60,000 100,000 Retained earnings 40,000