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The following information is available for the year ended 12/31/20 for the LeadMeOn Pencil Co.: Net income $22,000,000 Depreciation expense $5,300,000 Income tax expense $5,940,000
The following information is available for the year ended 12/31/20 for the LeadMeOn Pencil Co.: Net income $22,000,000 Depreciation expense $5,300,000 Income tax expense $5,940,000 Increase in accounts receivable $1,325,000 Decrease in accounts payable $1,020,000 Cash purchases of property, plant and equipment $9,400,000 What is the Capital Acquisitions ratio for the LeadMeOn Pencil Co.? Enter your answer to 2 decimal places. Do not enter your answer a percentage. Numeric Response
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