The financial information below presents selected information from the financial statements of Pelican Company. Sales revenue during the current year was $13,460,300 and cost of goods sold was $8,911,195. All of Pelican's sales are made on account and are due within 30 days. Prior Year Current Year
Cash and cash equivalents $ 564,330 $ 623,780
Accounts receivable 4,670,000 3,812,000
Inventory 932,360 1,259,440
Total current assets 8,400,030 8,300,100
Total assets 11,112,020 10,992,000
Total current liabilities 7,620,300 6,696,000
Total liabilities 8,461,900 8,264,700
Calculate the following:
a. Current ratios as of the end of the current and prior year. (Round your answers to 2 decimal places.)
b. Calculate the receivables turnover ratio for the current year. (Round your answer to 2 decimal places.)
c. Calculate the days to collect for the current year. (Round your intermediate calculations and final answers to 2 decimal place.)
d. Calculate the inventory turnover ratio for the current year. (Round your answer to 2 decimal places.)
e. Calculate the days to sell for the current year. (Round your intermediate calculations and final answers to 2 decimal place.)

Daniel owns 100 shares of abc corporation's common stock. abc uses the fair value option, and recent declines in the firm's credit rating have caused the value of the firm's outstanding bonds payable to drop by 10%. daniel feels this is good news, but he wants to know what you think about the situation. which of the following represents your best response? a : "this situation may be positive for you in that the change in abc's credit standing indicates that the value of the firm's assets is likely increasing. however, the drop in bond value may negate any positive effects on your bottom line, because it means your claim on the firm's assets is simultaneously decreasing." b : "actually, this is bad news all around. the drop in the value of abc's bonds payable means shareholders' claims on the firm's assets have decreased. moreover, abc's declining credit rating means that the firm's assets are probably also dropping in value, thus magnifying your losses even more." c : "on the surface, this seems like good news because it means your claim on the firm's assets has increased. however, the drop in creditworthiness may also indicate that abc's assets are declining in value, thus offsetting any gains associated with the drop in bonds payable." d : "you're right! this is good news because it means that abc's debtholders have a decreased claim on the firm's assets. as a result, the firm's existing shareholders"like you"have seen their claim on the firm's assets increase."

1  2  3  4  5  6  7  8  9  10time remaining59: 30in  the dark game, how does the author develop the central idea that elizabeth van lew was a spymaster during the civil war? 1 2 3 4 5 6 7 8 9 10time remaining59: 30in the dark game, how does the author develop the central idea that elizabeth van lew was a spymaster during the civil war?

Jacob is a member of wcc (an llc taxed as a partnership). jacob was allocated $155,000 of business income from wcc for the year. jacob’s marginal income tax rate is 37 percent. the business allocation is subject to 2.9 percent of self-employment tax and 0.9 percent additional medicare tax. (round your intermediate calculations to the nearest whole dollar a) what is the amount of tax jacob will owe on the income allocation if the income is not qualified business income? b) what is the amount of tax jacob will owe on the income allocation if the income is qualified business income (qbi) and jacob qualifies for the full qbi duduction?