Lendell Company has these comparative balance sheet data: Lendell Company Balance Sheets December 31 2020 2019 Cash $ 16,000 $31,000 Accounts receivable (net) 70,000 61,000 Inventory 61,000 51,000 Plant assets (net) 197,000 177,000 $344,000 $320,000 Accounts payable $50,000 $60,300 Mortgage payable (15%) 109,500 109,500 Common stock, $10 par 135,500 118,000 Retained earnings 49,000 32,200 $344,000 $320,000 20 n 21 en 24 Study Additional information for 2020: 1. 2. 3. 4. 5. Net income was $25,300. Sales on account were $413,400. Sales returns and allowances amounted to $20,400. Cost of goods sold was $196,000. Net cash provided by operating activities was $45,500. Capital expenditures were $24,000, and cash dividends were $10,000. 1.67. Round Accou Compute the following ratios at December 31, 2020. (Round current ratio to 2 decimal places son of John W a s An Rights Reserved. A 1. Net income was $25,300 2. Sales on account were 5413,400. Sales returns and allowances amounted to $20,400 3. Cost of goods sold was $196,000 4. Net cash provided by operating activities was $45,500. 5. Capital expenditures were $24,000, and cash dividends were $10,000 Compute the following ratios at December 31, 2020. (Round current ratio to 2 decimal places, e.g. 1.67. Round Accounts receivable turnover, Average collection period. In turnover and Days in inventory to I decimal place, e.g. 1.6.) (n) Current ratio (b) Accounts receivable turnover (c) Average collection period days (d) Inventory turnover times (e) Days in Inventory (1) Free cash now