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Your answer is partially correct. Try again. Lendell Company has these comparative balance sheet data: N Lendell Company Balance Sheets December 31 2020 2019 Cash
Your answer is partially correct. Try again. Lendell Company has these comparative balance sheet data: N Lendell Company Balance Sheets December 31 2020 2019 Cash $ 16,000 $ 31,000 Accounts receivable (net) 71,000 59,000 Inventory 61,000 49,000 Plant assets (net) 204,000 181,000 $352,000 $320,000 Accounts payable $50,000 $59,100 Mortgage payable (15%) 105,000 105,000 Common stock, $10 par 144,000 122,000 Retained earnings 53,000 33,900 $352,000 $320,000 Additional information for 2020: 1. Net income was $24,100. 2. Sales on account were $410,200. Sales returns and allowances amounted to $20,200. 3. Cost of goods sold was $198,000. Net cash provided by operating activities was $45,800. 5. Capital expenditures were $23,400, and cash dividends were $10,300. 4. Your answer is partially correct. Try again. Lendell Company has these comparative balance sheet data: Lendell Company Balance Sheets December 31 2020 2019 Cash Accounts receivable (net) Inventory Plant assets (net) $ 16,000 $ 31,000 71,000 59,000 61,000 49,000 204,000 181,000 $352,000 $320,000 $50,000 $59,100 105,000 105,000 144,000 122,000 53,000 33,900 $352,000 $320,000 Accounts payable Mortgage payable (15%) Common stock, $10 par Retained earnings Additional information for 2020: 1. 2. 3. 4. 5. Net income was $24,100. Sales on account were $410,200. Sales returns and allowances amou Cost of goods sold was $198,000. Net cash provided by operating activities was $45,800. Capital expenditures were $23,400, and cash dividends were $10,300 Compute the following ratios at December 31, 2020. (Round current ratio Accounts receivable turnover, Average collection period, Inventory decimal place, e.g. 1.6.) Common stock, $10 par Retained earnings 144,000 122,000 53,000 33,900 $352,000 $320,000 Additional information for 2020: 1. Net income was $24,100. 2. Sales on account were $410,200. Sales returns and allowances amounted to $20,200. 3. Cost of goods sold was $198,000. 4. Net cash provided by operating activities was $45,800. 5. Capital expenditures were $23,400, and cash dividends were $10,300. Compute the following ratios at December 31, 2020. (Round current ratio to 2 decimal places, e.g. 1.67. Round Account Days in inventory to 1 decimal place, e.g. 1.6.) (a) Current ratio 21:1 x (b) Accounts receivable turnover ***** 6 times x (c) Average collection period 59 days (d) Inventory turnover 3.6 times (e) Days in inventory 101.39 days (1) Free cash flow 9100 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT
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