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The financial information below presents selected information from the financial statements of Pelican Company. Sales revenue during the current year was $13,620,300 and cost
The financial information below presents selected information from the financial statements of Pelican Company. Sales revenue during the current year was $13,620,300 and cost of goods. sold was $8,907,195. All of Pelican's sales are made on account and are due within 30 days. $ Prior Year 556,330 4,590,000 Current Year $ 607,780 3,804,000 Cash and cash equivalents Accounts receivable Inventory 924,360 1,235,440 Total current assets 8,600,030 8,420,100 Total assets 11,104,020 10,984,000 Total current liabilities 7,340,300 7,216,000 Total liabilities 8,453,900 8,248,700 Required: a. Current ratios as of the end of the current and prior year. b. Calculate the receivables turnover ratio for the current year. c. Calculate the days to collect for the current year. d. Calculate the inventory turnover ratio for the current year. e. Calculate the days to sell for the current year. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Current ratios as of the end of the current and prior year. (Round your answers to 2 decimal places.) Current Ratio Current Year Prior Year Required A Required B >
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