Exercise 5-16 (Part Level Submission)

A comparative balance sheet for Larkspur Corporation is presented below.

		December 31
Assets		2017			2016
Cash		$ 72,660			$ 22,000
Accounts receivable		83,490			67,830
Inventory		181,490			190,830
Land		72,490			111,830
Equipment		261,490			201,830
Accumulated Depreciation-Equipment		(70,490	)		(43,830	)
Total		$601,130			$550,490
Liabilities and Stockholders' Equity
Accounts payable		$ 35,490			$ 48,830
Bonds payable		150,000			200,000
Common stock ($1 par)		214,000			164,000
Retained earnings		201,640			137,660
Total		$601,130			$550,490

Additional information:

1.		Net income for 2017 was $127,980. No gains or losses were recorded in 2017.
2.		Cash dividends of $64,000 were declared and paid.
3.		Bonds payable amounting to $50,000 were retired through issuance of common stock.

Determine Larkspur Corporations current cash debt coverage, cash debt coverage, and free cash flow. (Round current cash debt coverage and cash debt coverage to 2 decimal places., e.g. 0.67.)