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Crane Company has these comparative balance sheet data: Additional information for 2022 : 1. Net income was $24,000. 2. Sales on account were $403,000. Sales
Crane Company has these comparative balance sheet data: Additional information for 2022 : 1. Net income was $24,000. 2. Sales on account were $403,000. Sales returns and allowances amounted to $24,000. 3. Cost of goods sold was $194,400. 4. Net cash provided by operating activities was $44,000. 5. Capital expenditures were $27,000, and cash dividends paid were $8,500. 6. The bonds payable are due in 2035 . Compute the following ratios at December 31, 2022. (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, e.g. 1.6.)
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