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Help me solve for the red highlighted answers Exercise 18-09 Your answer is partially correct. Try again. Lendell Company has these comparative balance sheet data:
Help me solve for the red highlighted answers
Exercise 18-09 Your answer is partially correct. Try again. Lendell Company has these comparative balance sheet data: Lendell Company Balance Sheets December 31 2020 2019 Cash $ 15,000 $30,000 Accounts receivable (net) 71,000 60,000 50,000 197,000 175,000 $344,000 $315,000 $50,000 $59,200 Mortgage payable (15%) 108,000 108,000 Common stock, $10 par 138,500 124,500 23,300 $344,000 $315,000 Inventory Plant assets (net) 61,000 Accounts payable Retained earnings 47,500 Additional information for 2020: 1. Net income was $25,700 2. Sales on account were $412,500. Sales returns and allowances amounted to $19,500. 3. Cost of goods sold was $199,800. 4. Net cash provided by operating activities was $45,600. 5. Capital expenditures were $23,800, and cash dividends were $10,100. Compute the following ratlos at December 31, 2020. (Round current ratio to 2 decimal places, e.g. 1.67. Round Accounts receivable turnover, Average colfethon p trloeu haventony turnover and Days in nventcry to raecinal Round Accounts receivable turnover, Average (a) Current ratio (b) Accounts receivable turnover (c) Average collection period (d) Inventory turnover (e) Days in inventory (f) Free cash flow 2.94 :1 6 times 122.0 days 3.6 times 101.3 days 8900Step by Step Solution
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