Question: Current Attempt in Progress Lily Company has these comparative balance sheet data: Additional information for 2022 : 1. Net income was $25,300. 2. Sales on


Current Attempt in Progress Lily Company has these comparative balance sheet data: Additional information for 2022 : 1. Net income was $25,300. 2. Sales on account were $413,400. Sales returns and allowances amounted to $25,300. 3. Cost of goods sold was $196,000. 4. Net cash provided by operating activities was $45,500. 5. Capital expenditures were $24,000, and cash dividends paid were $10,000. 6. The bonds payable are due in 2035 . Compute the following ratios at December 31, 2022. (Round current ratio to 2 decimal places, e.g. 1.67. Round Accounts receivable turnover, Average collection period, Inventory turnover and Days in inventory to 1 decimal place, e.g. 1.6.)
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