On my last try please help finding out current ratio , accounts receivable turnover, average collection turnover, days in inventory, free cash flow ### Balance Sheets (December 31)| | 2022 | 2021 ||-------------------------|----------|----------|| **Cash** | $33,105 | $66,210 || **Accounts Receivable (net)** | $154,490 | $132,420 || **Inventory** | $132,420 | $110,350 || **Plant Assets (net)** | $441,400 | $397,260 || **Total Assets** | $761,415 | $706,240 || **Liabilities and Stockholders' Equity** | | ||-------------------------|----------|----------|| **Accounts Payable** | $110,350 | $132,420 || **Mortgage Payable (15%)** | $220,700 | $220,700 || **Common Stock, $10 par** | $308,980 | $264,840 || **Retained Earnings** | $121,385 | $88,280 || **Total Liabilities and Stockholders' Equity** | $761,415 | $706,240 |### Additional Information for 2022:1. **Net income** was $31,700.2. **Sales on account** were $395,400. Sales returns and allowances amounted to $29,700.3. **Cost of goods sold** was $226,500.4. **Net cash provided by operating activities** was $58,400.5. **Capital expenditures** were $26,700, and cash dividends were $20,500.### Compute the following ratios at December 31, 2022:(Note: Round current ratio and inventory turnover to 2 decimal places, e.g., 1.83, and all other answers to 1 decimal place, e.g., 1.8. Use 365 days for calculation.)| (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** | $ |This

Hi student Since there are multiple subparts, we will answer only first three subparts. Ratio…

Question 4 of 6 Cash Accounts receivable (net) Inventory Plant assets (net) Accounts payable Mortgage payable (15%) Common-stock, $10 par Retained earnings 1. 2 Additional information for 2022: 4. 5. < > Balance Sheets December 31 (a) (b) $33,105 154,490 132,420 441,400 $761,415 $ 110,350 220,700 308,980 121,385 Current ratio. 2022 $761,415 $706,240 Net income was $31,700. Sales on account were $395,400. Sales returns and allowances amounted to $29,700. Cost of goods sold was $226,500. Net cash provided by operating activities was $58,400. Capital expenditures were $26,700, and cash dividends were $20,500. 2021 $66,210 132,420 110,350 397,260 $706,240 $ 132,420 220,700 264,840 88,280 Compute the following ratios at December 31, 2022. (Round current ratio and inventory turnover to 2 decimal places, e.g. 1.83 and all other answers to 1 decimal place, e.g. 1.8. Use 365 days for calculation.) Accounts receivable turnover. (c) Average collection period. :1 times 0/10 days 123 ...

Question 4 of 6 Cash Accounts receivable (net) Inventory Plant assets (net) Accounts payable Mortgage payable (15%) Common-stock, $10 par Retained earnings 1. 2 Additional information for 2022: 4. 5. < > Balance Sheets December 31 (a) (b) $33,105 154,490 132,420 441,400 $761,415 $ 110,350 220,700 308,980 121,385 Current ratio. 2022 $761,415 $706,240 Net income was $31,700. Sales on account were $395,400. Sales returns and allowances amounted to $29,700. Cost of goods sold was $226,500. Net cash provided by operating activities was $58,400. Capital expenditures were $26,700, and cash dividends were $20,500. 2021 $66,210 132,420 110,350 397,260 $706,240 $ 132,420 220,700 264,840 88,280 Compute the following ratios at December 31, 2022. (Round current ratio and inventory turnover to 2 decimal places, e.g. 1.83 and all other answers to 1 decimal place, e.g. 1.8. Use 365 days for calculation.) Accounts receivable turnover. (c) Average collection period. :1 times 0/10 days 123 ...

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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