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Blossom Company has these comparative balance sheet data: BLOSSOM COMPANY Balance Sheets December 31 2017 Cash $36,060 Accounts receivable (net) 168,280 Inventory 144,240 Plant assets

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Blossom Company has these comparative balance sheet data: BLOSSOM COMPANY Balance Sheets December 31 2017 Cash $36,060 Accounts receivable (net) 168,280 Inventory 144,240 Plant assets (net) 480,800 $829,380 Accounts payable $ 120,200 Mortgage payable (15%) 240,400 Common stock, $10 par 336,560 Retained earnings 132.220 $829,380 2016 $ 72,120 144,240 120.200 432.720 $769.280 $ 144,240 240,400 288,480 96,160 $769,280 Additional information for 2017: 1 2 3 Net income was $27,800. Sales on account were $380,600. Sales returns and allowances amounted to $26.800 Cost of goods sold was $213,300. Net cash provided by operating activities was $58,300, Capital expenditures were $27.300, and cash dividends were $21.900 4. 5. Compute the following ratios at December 31, 2017. (Round current ratio and inventory turnover to 2 decimal places, es 1.83 and all other answers to 1 decimal place eg. 1.8. Use 365 days for calculation.) (a) Current ratio :1 (b) Accounts receivable turnover times a Average collection period days (d) Inventory turnover times (a) Current ratio. 1 (b) Accounts receivable turnover. times (c) Average collection period. days (d) Inventory turnover. times le) Days in inventory days (1) Free cash flow $ $

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