Question: 15. Armada Company has these comparative balance sheet data: Additional information for 2012 : 1. Net income was $25,000. 2. Sales on account were $450,000.

15. Armada Company has these comparative balance sheet data: Additional information for 2012 : 1. Net income was $25,000. 2. Sales on account were $450,000. Sales returns and allowances amounted to $25,000. 3. Cost of goods sold was $275,000. 4. Net cash provided by operating activities was $49,000. 5. Capital expenditures were $23,000, and cash dividends were $18,000. Instructions Compute the following ratios at December 31,2012. (a) Current. (e) Days in inventory. (b) Receivables turnover. (f) Cash debt coverage. (c) Average collection period. (g) Current cash debt coverage. (d) Inventory turnover. (h) Free cash flow

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