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Business, 12.10.2020 20:01 kimseokjin92

Lendell Company has these comparative balance sheet data: Lendell Company
Balance Sheets
December 31
2020 2019
Cash $ 16,000 $ 29,000
Accounts receivable (net) 71,000 61,000
Inventory 61,000 51,000
Plant assets (net) 200,000 176,000
$348,000 $317,000
Accounts payable $50,000 $59,400
Mortgage payable (15%) 106,000 106,000
Common stock, $10 par 143,000 115,000
Retained earnings 49,000 36,600
$348,000 $317,000
Additional information for 2020:
1. Net income was $25,200.
2. Sales on account were $415,300. Sales returns and allowances amounted to $19,300.
3. Cost of goods sold was $196,000.
4. Net cash provided by operating activities was $44,400.
5. Capital expenditures were $26,200, and cash dividends were $8,900.
Compute the following ratios at December 31, 2020. (Round current ratio to 2 decimal places, e. g. 1.67. Round Accounts receivable turnover, Average collection period, Inventory turnover and Days in inventory to 1 decimal place, e. g. 1.6.)
a. Current ratio
b. Accounts receivable turnover
c. Average collection period
d. Inventory turnover
e. Days in inventory

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Lendell Company has these comparative balance sheet data: Lendell Company
Balance Sheets

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