Business, 06.05.2020 04:41 callmedarthvadorplz

Frizell Company has the following comparative balance sheet data. 2020 2019 Cash $15,000 $ 30,000 Accounts receivable (net) 70,000 60,000 Inventory 60,000 50,000 Plant assets (net) 200,000 180,000 $345,000 $320,000 Accounts payable $ 50,000 $ 60,000 Mortgage payable (6%) 100,000 100,000 Common stock, $10 par 140,000 120,000 Retained earnings 55,000 40,000 $345,000 $320,000 Additional information for 2020: 1. Net income was $25,000. 2. Sales on account were $410,000. Sales returns and allowances were $20,000. 3. Cost of goods sold was $198,000. Instructions Compute the following ratios at December 31, 2020. (a) Current ratio. (b) Accounts receivable turnover. ( c) Average Collection Period (d) Inventory turnover (e) Days in Inventory (f) Profit Margin or Net Margin

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Frizell Company has the following comparative balance sheet data. 2020 2019 Cash $15,000 $ 30,000 Ac...

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