13-9

Exercise 13-9 Wildhorse Co. has these comparative balance sheet data WILDHORSE CO Balance Sheets December 31 2017 2016 $34,695 161,910 138,780 462,600 $797,985 s 115,650 231,300 323,820 127,215 $797,985 s 69,390 138,780 115,650 416,340 $740,160 s 138,780 231,300 277,560 92,520 $740,160 Cash Accounts receivable (net) Inventory Plant assets (net) Accounts payable Mortgage payable (15%) Common stock, $10 par Retained earnings Additional information for 2017: 1. Net income was $27,000. 2. Sales on account were $390,800. Sales returns and allowances amounted to s26,700 3. Cost of goods sold was s202,700. 4. Net cash provided by operating activities was s56,500. 5. Capital expenditures were $29,600, and cash dividends were $17,000. I place, e.g. 1.8, Use 365 days for calculation. times days days