7:58 AM Mon Apr 15 54% edugenwleyplus com E13-9. Compute selected ratios (LO 3) Lendell Company has these comparative balance sheet data: LENDELL COMPANY Balance Sheets December 31 2019 2018 Cash S 15,000 30,000 Accounts receivable (net) 70,000 60,000 50,000 200,000 180,000 S345,000 S320,000 s 50,000 S 60,000 Mortgage payable (15%) 100,000 100,000 140,000 120,000 40,000 S345,000 S320,000 Inventory 60,000 Plant assets (net) Accounts payable Common stock, $10 par Retained earnings 55,000 Additional information for 2019 1. Net income was $25,000. 2. Sales on account were $375,000. Sales returns and allowances amounted to $25,000. 3. Cost of goods sold was $198,000. 4. Net cash provided by operating activities was $48,000. 5. Capital expenditures were $25,000, and cash dividends were S10,000. Instructions Compute the following ratios at December 31, 2019. (a) Current ratio. (b) Accounts receivable turnover (c) Average collection period (d) Inventory turnover (e) Days in inventory. (f) Free cash flow