Exercise 18-09 Lendell Company has these comparative balance sheet data: Lendell Company Balance Sheets December 31 2020 2019 Cash Accounts receivable (net) Inventory Plant assets (net) $ 15,000 $ 31,000 69,000 60,000 60,000 49,000 203,000 177,000 $347,000 $317,000 $50,000 $59,800 110,000 110,000 143,000 123,000 44,000 24,200 $347,000 $317,000 Accounts payable Mortgage payable (15%) Common stock, $10 par Retained earnings Additional information for 2020: 1. 2. 3. Net income was $24,400. Sales on account were $412,850. Sales returns and allowances amounted to $19,400. Cost of goods sold was $196,200. Net cash provided by operating activities was $46,300. Capital expenditures were $22,400, and cash dividends were $10,800. 4. 5. Compute the following ratios at December 31, 2020. (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.) (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