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I would like the answer to the questions. Please help me solve the problem with a great understanding. Kinder Company has these comparative balance sheet
I would like the answer to the questions. Please help me solve the problem with a great understanding.
Kinder Company has these comparative balance sheet data: KINDER COMPANY Balance Sheets December 31 2014 Cash $ 32,385 Accounts receivable (net) 151,130 Inventory 129,540 Plant assets (net) 431,800 $744,855 Accounts payable $ 107,950 Mortgage payable (15%) 215,900 Common stock, $10 par 302,260 Retained earnings 118,745 $744,855 2013 $ 64,770 129,540 107,950 388,620 $690,880 $ 129,540 215,900 259,080 86,360 $690,880 Additional information for 2014: 1. 2. 3. 4. 5. Net income was $35,200. Sales on account were $380,000. Sales returns and allowances amounted to $29,600. Cost of goods sold was $210,600. Net cash provided by operating activities was $57,500. Capital expenditures were $26,500, and cash dividends were $14,300. Compute the following ratios at December 31, 2014. (Round all answers to 2 decimal places, e.g. 1.83.) (a) Current ratio. :1 2.9 (b) Accounts receivable turnover. times (c) days Average collection period. (d) Inventory turnover. times (e) Days in inventory. days (f) times Cash debt coverage ratio. (g) Current cash debt coverage ratio. times $ (h) Free cash flowStep by Step Solution
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