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Comparative balance sheet data Exercise 18-09 Lendell Company has these comparative balance sheet data: Lendell Company Balance Sheets December 31 2020 2019 Cash $ 15,000

Comparative balance sheet data

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Exercise 18-09 Lendell Company has these comparative balance sheet data: Lendell Company Balance Sheets December 31 2020 2019 Cash $ 15,000 $ 30,000 Accounts receivable (net) 70,000 60,000 Inventory 60,000 50,000 Plant assets (net) 200,000 180,000 $345,000 $320,000 Accounts payable $50,000 $60,000 Mortgage payable (15%) 100,000 100,000 Common stock, $10 par 140,000 120,000 Retained earnings 55,000 40,000 $345,000 $320,000 Additional information for 2020: 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 $10,000. Compute the following ratios at December 31, 2020. (Round current ratio to 2 decimal places, e.g. 1.67. Round Accounts receivable turnover, Average collection period, Inventory turnover and Days in inventory to 1 decimal place,(a) Current ratio :1 (b) Accounts receivable turnover times (c) Average collection period days (d) Inventory turnover times (e) Days in inventory days (f) Free cash flow Click if you would like to Show Work for this question: Open Show Work

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