wiley - Compute the following ratios at December 31, 2010....

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Armada Company has these comparative balance sheet data: ARMADA COMPANY Balance Sheets December 31 2010 2009 Cash $25,000 $30,000 Receivables (net) 65,000 60,000 Inventories 60,000 50,000 Plant assets (net) 200,000 180,000 $350,000 $320,000 Accounts payable $50,000 $60,000 Mortgage payable (15%) 100,000 100,000 Common stock, $10 par 140,000 120,000 Retained earnings 60,000 40,000 $350,000 $320,000 Additional information for 2010: 1. Net income was $25,000. 2. Sales on account were $375,000. Sales returns and allowances amounted to $25,000. 3. Cost of goods sold was $198,000. 4. Net cash provided by operating activities was $48,000. 5. Capital expenditures were $25,000, and cash dividends were $18,000.
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Unformatted text preview: Compute the following ratios at December 31, 2010. (Round to 3 decimal places, e.g. 2.515.) Current :1 Receivables turnover times Average collection period days Inventory turnover times Days in inventory days Cash debt coverage times Current cash debt coverage times Free cash flow $ Current 3.000:1 Receivables turnover 5.600 times Average collection period 65.179 days Inventory turnover 3.600 times Days in inventory 101.389 days Cash debt coverage 0.310 times Current cash debt coverage 0.873 times Free cash flow $ 5,000...
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wiley - Compute the following ratios at December 31, 2010....

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