I need help to figure out each part of this problem. Lendell Company has these comparative balance sheet data:Lendell CompanyBalance SheetsDecember 3120202019Cash$ 15,000$ 29,000Accounts receivable (net)71,00060,000Inventory60,00050,000Plant assets (net)199,000178,000$345,000$317,000Accounts payable$50,000$60,600Mortgage payable (15%)105,500105,500Common stock, $10 par142,000121,000Retained earnings47,50029,900$345,000$317,000 Additional information for 2020:1.Net income was $25,100.2.Sales on account were $412,400. Sales returns and allowances amounted to $19,400.3.Cost of goods sold was $198,000.4.Net cash provided by operating activities was $46,100.5.Capital expenditures were $22,800, and cash dividends were $10,600.Compute the following ratios at December 31, 2020. (Round current ratio to 2 decimal places, e.g. 1.67. Round Accounts receivableturnover, Average collection period, Inventory turnover and Days in inventory to 1 decimal place, e.g. 1.6.)(a)Current ratio:1(b)Accounts receivable turnovertimes(c)Average collection perioddays(d)Inventory turnovertimes(e)Days in inventorydays(f)Free cash flow%24

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Lendell Company has these comparative balance sheet data: Lendell Company Balance Sheets December 31 2020 2019 Cash $ 15,000 $ 29,000 Accounts receivable (net) 71,000 60,000 Inventory 60,000 50,000 Plant assets (net) 199,000 178,000 $345,000 $317,000 Accounts payable $50,000 $60,600 Mortgage payable (15%) 105,500 105,500 Common stock, $10 par 142,000 121,000 Retained earnings 47,500 29,900 $345,000 $317,000

Lendell Company has these comparative balance sheet data: Lendell Company Balance Sheets December 31 2020 2019 Cash $ 15,000 $ 29,000 Accounts receivable (net) 71,000 60,000 Inventory 60,000 50,000 Plant assets (net) 199,000 178,000 $345,000 $317,000 Accounts payable $50,000 $60,600 Mortgage payable (15%) 105,500 105,500 Common stock, $10 par 142,000 121,000 Retained earnings 47,500 29,900 $345,000 $317,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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