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Exercise 13-9 Your answer is partially correct. Try again. Kinder Company has these comparative balance sheet data: KINDER COMPANY Balance Sheets December 31 2014 2013
Exercise 13-9
Your answer is partially correct. Try again. | |
Kinder Company has these comparative balance sheet data:
KINDER COMPANY Balance Sheets December 31 | ||
2014 | 2013 | |
Cash | $34,290 | $68,580 |
Accounts receivable (net) | 160,020 | 137,160 |
Inventory | 137,160 | 114,300 |
Plant assets (net) | 457,200 | 411,480 |
$788,670 | $731,520 | |
Accounts payable | $114,300 | $137,160 |
Mortgage payable (15%) | 228,600 | 228,600 |
Common stock, $10 par | 320,040 | 274,320 |
Retained earnings | 125,730 | 91,440 |
$788,670 | $731,520 |
Additional information for 2014:
1. | Net income was $28,200. |
2. | Sales on account were $393,000. Sales returns and allowances amounted to $29,500. |
3. | Cost of goods sold was $229,000. |
4. | Net cash provided by operating activities was $59,500. |
5. | Capital expenditures were $29,000, and cash dividends were $17,700. |
Compute the following ratios at December 31, 2014. (Round all answers to 2 decimal places, e.g. 1.83.)
(a) | Current ratio. | :1 | |
(b) | Accounts receivable turnover. | times | |
(c) | Average collection period. | days | |
(d) | Inventory turnover. | times | |
(e) | Days in inventory. | days | |
(f) | Cash debt coverage ratio. | times | |
(g) | Current cash debt coverage ratio. | times | |
(h) | Free cash flow. | $ |
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