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Crane Company has these comparative balance sheet data: CRANE COMPANY Balance Sheets December 31 2022 2021 Cash $27,645 $55,290 Accounts receivable (net) 129,010 110,580
Crane Company has these comparative balance sheet data: CRANE COMPANY Balance Sheets December 31 2022 2021 Cash $27,645 $55,290 Accounts receivable (net) 129,010 110,580 Inventory 110,580 92,150. Plant assets (net) 368,600 331,740 $635,835 $589,760 Accounts payable $92.150 $110,580 Mortgage payable (15% ) 184,300 184,300 Common stock, $10 par 258,020 221,160 Retained earnings 101,365 73,720 $635.835 $589,760 Additional information for 2022: 1. Net income was $26,900. 2. Sales on account were $392,300. Sales returns and allowances amounted to $27,000. Additional information for 2022: 1. Net income was $26,900. 2. Sales on account were $392,300. Sales returns and allowances amounted to $27,000. 3. Cost of goods sold was $217,600. 4. Net cash provided by operating activities was $59,800. 5. Capital expenditures were $26,800, and cash dividends were $12,300. Compute the following ratios at December 31, 2022. (Round current ratio and inventory turnover to 2 decimal places, eg. 1.83 and all other answers to 1 decimal place, eg. 1.8. Use 365 days for calculation.) (a) Current ratio. (b) Accounts receivable turnover. (c) Average collection period. (d) Inventory turnover. (e) Days in inventory. (f) Free cash flow. :1 times days times days
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