Exercise 13-9 Sandhill Co. has these comparative balance sheet data: SANDHILL CO. Balance Sheets December 31 2017 2016 $ 29,205 58,410 Cash Accounts receivable (net) 136,290 116,820 97,350 116,820 Inventory 389,400 350,460 Plant assets (net) $671,715 $623,040 $ 116,820 Accounts payable 97,350 194,700 194,700 Mortgage payable (15%) Common stock, $10 par 272,580 233,640 107,085 77,880 Retained earnings $671,715 $623,040 Additional information for 2017: 1. Net income was $34,900. 2. Sales on account were $378,200. Sales returns and allowances amounted to $29,600. 3. Cost of goods sold was $204,700. 4. Net cash provided by operating activities was $57,300. 5. Capital expenditures were $28,200, and cash dividends were $13,800. Compute the following ratios at December 31, 2017. (Round current ratio and inventory turnover to 365 days for calculation.) decimal places, e.g. 1.83 and all other answers to 1 decimal place, e.g. 1.8. Use (a) Current ratio. :: (b) Accounts receivable turnover. times (c) Average collection period. davs (d) Inventory turnover. times (e) Days in inventory days (f) Free cash flow