Business, 01.07.2020 15:01 destinyycooper

Crane Company has these comparative balance sheet data CRANE COMPANY Balance Sheets December 31 2017 2016 Cash Accounts receivable (net) Inventory Plant assets (net) $27,645 129,010 110,580 368,600 $635,835 $92,150 184,300 258,020 101,365 $635,835 $ 55,290 110,580 92,150 331,740 $589,760 $ 110,580 184,300 221,160 73,720 $589,760 Accounts payable Mortgage payable (1596) Common stock, $10 par Retained earnings Additional information for 2017: 1. Net income was $26,900
2. Sales on account were $392,300. Sales returns and allowances amounted to $27,000
3. Cost of goods sold was $217,600
4. Net cash provided by operating activities was $59,800
5. Capital expenditures were $26,800, and cash dividends were $12,300
Compute the following ratios at December 31, 2017. (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

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Crane Company has these comparative balance sheet data CRANE COMPANY Balance Sheets December 31 2017...

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