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View Policies Current Attempt in Progress Lendell Company has these comparative balance sheet data: 2019 $ 30,000 60,000 Lendell Company Balance Sheets December 31 2020
View Policies Current Attempt in Progress Lendell Company has these comparative balance sheet data: 2019 $ 30,000 60,000 Lendell Company Balance Sheets December 31 2020 Cash $ 14,000 Accounts receivable (net) 69,000 Inventory 60,000 Plant assets (net) 197,000 $340,000 Accounts payable $50,000 Mortgage payable (15%) 101,500 Common stock, $10 par 144,500 Retained earnings 44,000 $340,000 50,000 181,000 $321,000 $59,900 101,500 122,000 37,600 $321,000 Additional information for 2020: 1. Net income was $25,000. Additional information for 2020: 1. 2. 3. Net income was $25,000. Sales on account were $407,200. Sales returns and allowances amounted to $20,200. Cost of goods sold was $192,500. Net cash provided by operating activities was $45,200. Capital expenditures were $24,600, and cash dividends were $9,700. 4. 5. Compute the following ratios at December 31, 2020. (Round current ratio to 2 decimal places, eg. 1.67. Round Accounts receivable turnover, Average collection period, Inventory turnover and Days In Inventory to 1 decimal place, eg. 1.6) (a) Current ratio :1 (b) Accounts receivable turnover times (c) Average collection period days (d) Inventory turnover times (e) Days in inventory days (f) Free cash flow
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