Question: The financial information below <a rel=presents selected information from the financial statements of Pe…” />Question: The financial information below presents selected information from the financial statements of Pe...

Never use plagiarized sources. Get Your Original Essay on
Question: The financial information below presents selected information from the financial statements of Pe…
Hire Professionals Just from $11/Page
Order Now Click here

Show transcribed image text The financial information below presents selected information from the financial statements of Pelican Company. Sales revenue during the current year was $13,360,300 and cost of goods sold was $8,913,695. All of Pelican's sales are made on account and are due within 30 days. Prior Year Current Year Cash and cash equivalents 569,330 633,780 Accounts receivable 4,720,000 3,817,000 Inventory 937,360 1,274,440 Total current assets 8,275,030 8,225,100 Total assets 11,117,020 10,997,000 7,795,300 6,371,000 Total current liabilities Total liabilities 8,466,900 8,274,700 Calculate the following: a. Current ratios as of the end of the current and prior year. (Round your answers to 2 decimal places.) Current Year Prior Year Current Ratio b. Calculate the receivables turnover ratio for the current year. (Round your answer to 2 decimal places Receivables Turnover

The financial information below presents selected information from the financial statements of Pelican Company. Sales revenue during the current year was $13,360,300 and cost of goods sold was $8,913,695. All of Pelican's sales are made on account and are due within 30 days. Prior Year Current Year Cash and cash equivalents 569,330 633,780 Accounts receivable 4,720,000 3,817,000 Inventory 937,360 1,274,440 Total current assets 8,275,030 8,225,100 Total assets 11,117,020 10,997,000 7,795,300 6,371,000 Total current liabilities Total liabilities 8,466,900 8,274,700 Calculate the following: a. Current ratios as of the end of the current and prior year. (Round your answers to 2 decimal places.) Current Year Prior Year Current Ratio b. Calculate the receivables turnover ratio for the current year. (Round your answer to 2 decimal places Receivables Turnover

Open chat
Lets chat on via WhatsApp
Hello, Welcome to our WhatsApp support. Reply to this message to start a chat.