Question
Kinder Company has these comparative balance sheet data: KINDER COMPANY Balance Sheets December 31 2014 2013 Cash $ 15,150 $ 30,300 Accounts receivable (net) 70,700
Kinder Company has these comparative balance sheet data: KINDER COMPANY Balance Sheets December 31 2014 2013 Cash $ 15,150 $ 30,300 Accounts receivable (net) 70,700 60,600 Inventory 60,600 50,500 Plant assets (net) 202,000 181,800 $348,450 $323,200 Accounts payable $ 50,500 $ 60,600 Mortgage payable (15%) 101,000 101,000 Common stock, $10 par 141,400 121,200 Retained earnings 55,550 40,400 $348,450 $323,200 Additional information for 2014: 1. Net income was $35,000. 2. Sales on account were $381,000. Sales returns and allowances amounted to $28,900. 3. Cost of goods sold was $219,500. 4. Net cash provided by operating activities was $56,600. 5. Capital expenditures were $26,400, and cash dividends were $21,100. 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. $ Click if you would like to Show Work for this question: Open Show Work
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