2016 PLANNER CORPORATION Comparative Balance Sheets December 31 2017 Cash $21,570 Accounts receivable 18.200 Land 18,000 Building 70,000 Accumulated depreciation (15,000) Total $112,770 Accounts payable $12.370 Common stock 75.000 Retained earnings 25,400 Total $112.770 $10,700 23,400 26,000 70,000 (10,000) $120,100 $31.100 69.000 20,000 $210,100 Additional information: Net income was $27.900. Dividends declared and paid were $22.500. All other changes in noncurrent account balances had a direct effect on cash flows, except the Compute the following ratios at December 31, 2017. (Round all answers to 2 decimal plan 3.30 (a) Current ratio 6.80 times (b) Accounts receivable turnover 53.68 days c Average collection period 5.00 times (d) Inventory turnover days le) Days in inventory times (f) Cash debt coverage times (8 Current cash debt coverage th Free cash flow Al Last Saved 37 seconds ago Saved Additional information for 2017: 1. 2. 3. Net income was $25,000. Sales on account were $450,000. Sales returns and allowances amounted to $25,000. Cost of goods sold was $275,000. Net cash provided by operating activities was $49.000. Capital expenditures were $23.000, and cash dividends were $18,000. 4. 5