Current Attempt in Progress Current Attempt in Progress

Sheridan Company has these comparative balance sheet data:

Additional information for $2025$ :

Net income was $$24,000.$

Sales on account were $$390,000.$ Sales returns and allowances amounted to $$24,000.$

Cost of goods sold was $$204,000.$

Net cash provided by operating activities was $$53,000.$

Capital expenditures were $$25,000,$ and cash dividends paid were $$12,000.$

The bonds payable are due in $2038.$

Compute the following ratios at December $31,2025.($Round current ratio and inventory turnover to $2$ decimal places, e$.$g$.1\mathrm{.}83$ and all other

answers to $1$ decimal place, e$.$g$.1\mathrm{.}8.$ Use $365$ days for calculation.$)$

a$.$ Current ratio

:$1$

b$.$ Accounts receivable turnover

times

c$.$ Average collection period

days

d$.$ Inventory turnover

times

e$.$ Days in inventory

days

f$.$ Free cash flow

$

Sheridan Company has these comparative balance sheet data:

Additional information for $2025$ :

Net income was $$24,000.$

Sales on account were $$390,000.$ Sales returns and allowances amounted to $$24,000.$

Cost of goods sold was $$204,000.$

Net cash provided by operating activities was $$53,000.$

Capital expenditures were $$25,000,$ and cash dividends paid were $$12,000.$

The bonds payable are due in $2038.$

Compute the following ratios at December $31,2025.($Round current ratio and inventory turnover to $2$ decimal places, e$.$g$.1\mathrm{.}83$ and all other

answers to $1$ decimal place, e$.$g$.1\mathrm{.}8.$ Use $365$ days for calculation.$)$

a$.$ Current ratio

:$1$

b$.$ Accounts receivable turnover

times

c$.$ Average collection period

days

d$.$ Inventory turnover

times

e$.$ Days in inventory

days

f$.$ Free cash flow

$