X Search Textbook Solution ? McGraw-Hill Connect D Chapter 13 Quiz C ezto.mheduc

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X Search Textbook Solution ? McGraw-Hill Connect D Chapter 13 Quiz C ezto.mheducation.com/hm.tpx Apps G Google , Classroom ? Google Drive D Chapter 8 Homewor The financial information below presents selected information from the financial statements of Pelican Compary. Sales revenue during the current year was $13,880,300 and cost of goods sold was $8,005,805 Allot Pelicans sales are made on aocourt and are due ?hin 30 days. Inventory Total cument assets Total assels Tolal current liabilises Total liabiltes Cash and o equivalents S 553.330 001.70 4,500,000 3,801,000 921.360 1,226,440 8,675.030 8,405, 100 11,101,020 10,81,000 7.235,300 7411.000 8450,0008242,700 Caloulate the following a. Current rabos as of the and of the ourrent and prior year. (Round your answers to 2 decimal places) Cument Ratio b. Caloulate the recevables tunover ratio for the ourtent year IRound your answer to 2 decimal places.) anssers to 2 décimal plate) diate balcufation s and final turent yea decimal places.)

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S.no Ratio Formula Ratio Aount 1. Current Ratio Current Asset/Current Liabilities 8675030/7235300 = 1.19 2. Rec. Turnover Ratio Net Credit Sales/Avg AR 13680300/4190500 = 3.26 3. Days to Collect 365/Rec. TO Ratio 365/3.2645 = 111.80 days 4. Inv TO Ratio COGS/Avg Inv. 8905695/1073900 = 8.29 5. Days to Sell 365/Inv TO Ratio 365/8.29 = 44 days

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