The financial information below presents selected information from the financial statements of Pelican Company. Sales revenue during the current year was $13,340,300 and cost of goods sold was $8,914,195. All of Pelican's sales are made on account and are due within 30 days. Prior Year Current Year Cash and cash equivalents $ 570,330 $ 635,780 Accounts receivable 4,730,000 3,818,000 Inventory 938,360 1,277,440 Total current assets 8,250,030 8,210,100 Total assets 11,118,020 10,998,000 Total current liabilities 7,830,300 6,306,000 Total liabilities 8,467,900 8,276,700 Required: Current ratios as of the end of the current and prior year. Calculate the receivables turnover ratio for the current year. Calculate the days to collect for the current year. Calculate the inventory turnover ratio for the current year. Calculate the days to sell for the current year.
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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
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Required E
Calculate the receivables turnover ratio for the current year. (Round your answer to 2 decimal places.)
Receivables Turnover Ratio
Complete this question by entering your answers in the tabs below.
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Required E
Calculate the days to collect for the current year. (Round your intermediate calculations. Round your final answer to 2 decimal places.)
Days to Collect
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Required E
Calculate the inventory turnover ratio for the current year. (Round your answer to 2 decimal places.)
Inventory Turnover Ratio
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Required B
Required C
Required D
Required E
Calculate the days to sell for the current year. (Round your intermediate calculations. Round your final answer to 2 decimal places.)
Days to Sell