Question
Additional information for 2022: (-)/(1) Net income was $26,200 . Sales on account were $380,400 . Sales returns and allowances amounted to $28,500 .
Additional information for 2022:\
(-)/(1)
\ Net income was
$26,200
.\ Sales on account were
$380,400
. Sales returns and allowances amounted to
$28,500
.\ Cost of goods sold was
$225,300
.\ Net cash provided by operating activities was
$59,100
.\ Capital expenditures were
$27,600
, and cash dividends were
$16,600
.\ Compute the following ratios at December 31, 2022. (Round current ratio 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.\
:1
\ times\ (c) Average collection period.\ (d) Inventory turnover. days\ (e) Days in inventory. times\ (f) Free cash flow. days
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started