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Oriole Company has these comparative balance sheet data: ORIOLE COMPANY Balance Sheets December 31 2022 2021 Cash $ 25,635 $ 51,270 Accounts receivable (net) 119,630
Oriole Company has these comparative balance sheet data:
ORIOLE COMPANY Balance Sheets December 31 | ||||
---|---|---|---|---|
2022 | 2021 | |||
Cash | $ 25,635 | $ 51,270 | ||
Accounts receivable (net) | 119,630 | 102,540 | ||
Inventory | 102,540 | 85,450 | ||
Plant assets (net) | 341,800 | 307,620 | ||
$ 589,605 | $ 546,880 | |||
Accounts payable | $ 85,450 | $ 102,540 | ||
Mortgage payable (15%) | 170,900 | 170,900 | ||
Common stock, $10 par | 239,260 | 205,080 | ||
Retained earnings | 93,995 | 68,360 | ||
$ 589,605 | $ 546,880 |
Additional information for 2022:
1. | Net income was $ 33,900. | |
2. | Sales on account were $ 395,200. Sales returns and allowances amounted to $ 28,100. | |
3. | Cost of goods sold was $ 217,500. | |
4. | Net cash provided by operating activities was $ 56,500. | |
5. | Capital expenditures were $ 26,600, and cash dividends were $ 20,800. |
Compute the following ratios at December 31, 2022. (Round current ratio and inventory turnover to 2 decimal places, e.g. 1.83 and all other answers to 1 decimal place, e.g. 1.8. Use 365 days for calculation.)
(a) | Current ratio. | enter current ratio rounded to 2 decimal places | :1 | ||
(b) | Accounts receivable turnover. | enter accounts receivable turnover in times rounded to 1 decimal place | times | ||
(c) | Average collection period. | enter average collection period in days rounded to 1 decimal place | days | ||
(d) | Inventory turnover. | enter inventory turnover in times rounded to 2 decimal places | times | ||
(e) | Days in inventory. | enter days in inventory rounded to 1 decimal place | days | ||
(f) | Free cash flow. | $ enter free cash flow in dollars rounded to 1 decimal place |
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