Question: Sheffield Company has these comparative balance sheet data: Additional information for 2022 : 1. Net income was $24,400. 2. Sales on account were $416,400. Sales

 Sheffield Company has these comparative balance sheet data: Additional information for
2022 : 1. Net income was $24,400. 2. Sales on account were

Sheffield Company has these comparative balance sheet data: Additional information for 2022 : 1. Net income was $24,400. 2. Sales on account were $416,400. Sales returns and allowances amounted to $24,400 3. Cost of goods sold was $201,650. 4. Net cash provided by operating activities was $45,000. 5. Capital expenditures were $25,000 and cash dividends paid were $9,500. 6. The bonds payable are due in 2035 Compute the following ratios at December 31 . 2022. (Round current natio to 2 decimal places es. 1.67 . Round Accountr meatiabie turnover, Average collection period, irventary tumover and Dors in inventory to 1 decimal ploce es. 1.6J

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