The financial information below presents selected information from the financial statements of Pelican Company. Sales revenue...

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The financial information below presents selected information from the financial statements of Pelican Company. Sales revenue during the current year was $13,300,300 and cost of goods sold was $8,915,195. All of Pelican's sales are made on account and are due within 30 days. Cash and cash equivalents Accounts receivable Inventory Total current assets Prior Year Current Year $ 572,330 4,750,000 940,360 $ 639,780 3,820,000 1,283,440 8,200,030 8,180,100 Total assets 11,120,020 11,000,000 Total current liabilities 7,900,300 6,176,000 Total liabilities 8,469,900 8,280,700 Required: a. Calculate the current ratio for both the current year and prior year. b. Calculate the receivables turnover ratio for the current year. c. Calculate the days to collect for the current year. d. Calculate the inventory turnover ratio for the current year. e. Calculate the days to sell for the current year. The financial information below presents selected information from the financial statements of Pelican Company. Sales revenue during the current year was $13,300,300 and cost of goods sold was $8,915,195. All of Pelican's sales are made on account and are due within 30 days. Cash and cash equivalents Accounts receivable Inventory Total current assets Prior Year Current Year $ 572,330 4,750,000 940,360 $ 639,780 3,820,000 1,283,440 8,200,030 8,180,100 Total assets 11,120,020 11,000,000 Total current liabilities 7,900,300 6,176,000 Total liabilities 8,469,900 8,280,700 Required: a. Calculate the current ratio for both the current year and prior year. b. Calculate the receivables turnover ratio for the current year. c. Calculate the days to collect for the current year. d. Calculate the inventory turnover ratio for the current year. e. Calculate the days to sell for the current year.

Answer rating: 100% (QA)

a Current Ratio Current Ratio Current Year 639780 1283440 4750000 6176000 Current Ratio Prior Year 5... View the full answer