Lendell Company has these comparative balance sheet data: Lendell Company Balance Sheets December 31 Cash Accounts...

 

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Lendell Company has these comparative balance sheet data: Lendell Company Balance Sheets December 31 Cash Accounts receivable (net) Inventory Plant assets (net) Accounts payable Mortgage payable (15%) Common stock, $10 par Retained earnings 2019 $ 15,000 $ 29,000 70,000 60,000 61,000 51,000 199,000 179,000 $345,000 $319,000 $50,000 $60,300 104,500 104,500 145,000 115,500 45,500 38,700 $345,000 $319,000 2020 Additional information for 2020: 1. Net income was $24,700. 2. Sales on account were $410,800. Sales returns and allowances amounted to $20,800. 3. Cost of goods sold was $201,600. 4. Net cash provided by operating activities was $44,700. 5. Capital expenditures were $25,600, and cash dividends were $9,200. 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. (b) Accounts receivable turnover (c) Average collection period (d) Inventory turnover (e) Days in inventory (f) Free cash flow $ :1 times days times days Lendell Company has these comparative balance sheet data: Lendell Company Balance Sheets December 31 Cash Accounts receivable (net) Inventory Plant assets (net) Accounts payable Mortgage payable (15%) Common stock, $10 par Retained earnings 2019 $ 15,000 $ 29,000 70,000 60,000 61,000 51,000 199,000 179,000 $345,000 $319,000 $50,000 $60,300 104,500 104,500 145,000 115,500 45,500 38,700 $345,000 $319,000 2020 Additional information for 2020: 1. Net income was $24,700. 2. Sales on account were $410,800. Sales returns and allowances amounted to $20,800. 3. Cost of goods sold was $201,600. 4. Net cash provided by operating activities was $44,700. 5. Capital expenditures were $25,600, and cash dividends were $9,200. 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. (b) Accounts receivable turnover (c) Average collection period (d) Inventory turnover (e) Days in inventory (f) Free cash flow $ :1 times days times days

Answer rating: 100% (QA)

a Current ratio Current assetsCurrent liabilities 14600050... View the full answer