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Crane Company has these comparative balance sheet data: CRANE COMPANY Balance Sheets December 31 2022 2021 Cash $ 27,105 $ 54,210 Accounts receivable (net) 126,490

Crane Company has these comparative balance sheet data:

CRANE COMPANY Balance Sheets December 31

2022

2021

Cash

$ 27,105

$ 54,210

Accounts receivable (net)

126,490

108,420

Inventory

108,420

90,350

Plant assets (net)

361,400

325,260

$623,415

$578,240

Accounts payable

$ 90,350

$ 108,420

Mortgage payable (15%)

180,700

180,700

Common stock, $10 par

252,980

216,840

Retained earnings

99,385

72,280

$623,415

$578,240

Additional information for 2022:

1. Net income was $27,900.
2. Sales on account were $381,365. Sales returns and allowances amounted to $29,000.
3. Cost of goods sold was $298,155.
4. Net cash provided by operating activities was $56,017.
5. Capital expenditures were $28,900, and cash dividends were $17,900.

Compute the following ratios at December 31, 2022. (Round free cash flow to 0 decimal places, e.g. 5,275 and all other answers to 2 decimal places, e.g. 1.82. Use 365 days for calculation.)

(a)

Current ratio.

Enter current ratio rounded to 2 decimal place

:1

(b)

Accounts receivable turnover.

Enter accounts receivable turnover in times rounded to 2 decimal place

times

(c)

Average collection period.

Enter average collection period in days rounded to 2 decimal place

days

(d)

Inventory turnover.

Enter inventory turnover in days rounded to 2 decimal place

times

(e)

Days in inventory.

Enter number of days in inventory rounded to 2 decimal place

days

(f)

Free cash flow.

$Enter free cash flow in dollars rounded to 0 decimal places

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