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Culver Company has these comparative balance sheet data: CULVER COMPANY Balance Sheets December 31 2022 2021 Cash $ 48,700 $ 29,900 Accounts receivable (net) 71,300
Culver Company has these comparative balance sheet data:
CULVER COMPANY Balance Sheets December 31 | ||||
---|---|---|---|---|
2022 | 2021 | |||
Cash | $ 48,700 | $ 29,900 | ||
Accounts receivable (net) | 71,300 | 66,700 | ||
Inventory | 70,300 | 58,600 | ||
Plant assets (net) | 185,800 | 172,000 | ||
$376,100 | $327,200 | |||
Accounts payable | $ 50,200 | $ 55,400 | ||
Mortgage payable (15%, due in 15 years) | 94,100 | 123,900 | ||
Common stock, $10 par | 172,800 | 100,600 | ||
Retained earnings | 59,000 | 47,300 | ||
$376,100 | $327,200 |
Additional information for 2022:
1. | Net income was $21,800. | |
2. | Sales on account were $426,000. Sales returns and allowances amounted to $25,400. | |
3. | Cost of goods sold was $248,000. | |
4. | Net cash provided by operating activities was $43,000. | |
5. | Capital expenditures were $24,000, and cash dividends were $16,000. |
Compute the following ratios at December 31, 2022. (Round all answers to 1 decimal place, e.g. 1.8)
(a) | Current ratio | Enter current ratio | : 1 | ||
(b) | Accounts receivable turnover | Enter accounts receivable turnover in times | times | ||
(c) | Average collection period | Enter average collection period in days | days | ||
(d) | Inventory turnover | Enter inventory turnover in times | times | ||
(e) | Days in inventory | Enter the number of days in inventory | days | ||
(f) | Free cash flow | $Enter free cash flow in dollars |
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