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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 $13,500,300 and cost of
The financial information below presents selected information from the financial statements of Pelican Company. Sales revenue during the current year was $13,500,300 and cost of goods sold was $8,910,195. All of Pelican's sales are made on account and are due within 30 days. Prior Year Current Year Cash and cash equivalents Accounts receivable Inventory Total current assets Total assets Total current liabilities Total liabilities $562,330 619,780 3,810,000 1,253,440 8,330,100 10,990,000 6, 826,000 8,260,700 4,650,000 930,360 8,450,030 11,110,020 7,550,300 8,459,900 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 Year Prior Year Current Ratio
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