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I'm having issues with my ratios. Wildhorse Co. has these comparative balance sheet data: WILDHORSE CO. Balance Sheets December 31 2017 2016 Cash $26,295 $
I'm having issues with my ratios.
Wildhorse Co. has these comparative balance sheet data: WILDHORSE CO. Balance Sheets December 31 2017 2016 Cash $26,295 $ 52,590 Accounts receivable (net) 122,710 105,180 Inventory 105,180 87,650 Plant assets (net) 350,600 315,540 $604.785 $560,960 Accounts payable $ 87.650 $ 105,180 Mortgage payable (15%) 175,300 175,300 Common stock. $10 par 245,420 210,360 Retained earnings 96.415 70.120 $604.785 $560.960 17 Accounts payable Mortgage payable (15%) Common stock, $10 par Retained earnings $604,785 $560,960 $ 87,650 $ 105,180 175,300 175,300 245,420 210,360 96,415 70,120 $604,785 $560,960 Additional information for 2017: 1. Net income was $26,200. 2. Sales on account were $380,400. Sales returns and allowances amounted to $28,500 3. Cost of goods sold was $225,300. 4. Net cash provided by operating activities was $59.100. 5. Capital expenditures were $27.600, and cash dividends were $16,600. Compute the following ratios at December 31, 2017. (Round current ratio and Inventory turnover all other answers to 1 decimal place eg. 1.8. Use 365 days for calculation) (a) Current ratio. (b) Accounts receivable turnover. times (c) Average collection period. 282.95 days 4. Net cash provided by operating activities was $59.100. 5. Capital expenditures were $27,600, and cash dividends were $16,600. Compute the following ratios at December 31, 2017. (Round current ratio and Inventor all other answers to 1 decimal place eg. 1.8. Use 365 days for calculation.) (a) Current ratio. b) Accounts receivable turnover. c) Average collection period. 1.29 times 282.95 days d) Inventory turnover. 151 times 24172 days e) Days in inventory. 1 Free cash flow 14900 e Textbook and Media Attempts: 1 of 5 used Save for LateStep by Step Solution
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