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Crane Company has these comparative balance sheet data: Crane Company Balance Sheets December 31 2022 2021 Cash $ 15,000 $ 30,000 Accounts receivable (net) 70,000

Crane Company has these comparative balance sheet data:

Crane Company Balance Sheets December 31

2022

2021

Cash

$ 15,000 $ 30,000

Accounts receivable (net)

70,000 59,000

Inventory

61,000 49,000

Plant assets (net)

195,000 179,000
$341,000 $317,000

Accounts payable

$50,000 $60,900

Bonds payable (15%)

101,500 101,500

Common stock, $10 par

144,000 118,500

Retained earnings

45,500 36,100
$341,000 $317,000

Additional information for 2022:

1. Net income was $25,800.
2. Sales on account were $407,700. Sales returns and allowances amounted to $25,800.
3. Cost of goods sold was $198,000.
4. Net cash provided by operating activities was $45,300.
5. Capital expenditures were $24,400, and cash dividends paid were $9,800.
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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