111 Sprint 11:18 PM * 59% E Practice Exercise2 2017 2016 $20,595 96,110 82,380 274,600 $473,685 68,650 137,300 192,220 75,515 $473,685 41,190 82,380 68,650 247,140 $439,360 82,380 137,300 164,760 54,920 $439,360 Cash Accounts receivable (net) Inventory Plant assets (net) Review Results by Study objective Accounts payable Mortgage payable (15%) Common stock, $10 par Retained earnings Additional information for 2017: 1. Net income was $29,500 2. Sales on account were $392,000. Sales returns and allowances amounted to $29,300. 3. Cost of goods sold was $201,900 4. Net cash provided by operating activities was $56,200. 5. Capital expenditures were $30,000, and cash dividends were $15,100 Compute the following ratios at December 31, 2017. (Round current ratio and inventory turnover to 2 decimal places, e.g. 1.83 and all other answers to 1 decimal place, e.g. 1.8. Use 365 days for calculation.) (a) Current ratio, (b) Accounts receivable turnover. (c) Average collection period. times days times days (d) Inventory turnover (e) Days in inventory. (f) Free cash flow