Sheridan Company has these comparative balance sheet data: SHERIDAN…

Question Sheridan Company has these comparative balance sheet data: SHERIDAN… Sheridan Company has these comparative balance sheet data: SHERIDAN COMPANYBalance SheetsDecember 31  2022 2021Cash $ 14,400 $ 28,800Accounts receivable (net) 67,200 57,600Inventory 57,600 48,000Plant assets (net) 192,000 172,800  $331,200 $307,200Accounts payable $ 48,000 $ 57,600Bonds payable (15%) 96,000 96,000Common stock, $10 par 134,400 115,200Retained earnings 52,800 38,400  $331,200 $307,200Additional information for 2022: 1. Net income was $34,200.2. Sales on account were $384,100. Sales returns and allowances amounted to $28,500.3. Cost of goods sold was $221,200.4. Net cash provided by operating activities was $58,700.5. Capital expenditures were $29,400, and cash dividends paid were $21,700.6. The bonds payable are due in 2035.Compute the following ratios at December 31, 2022. (Round current ratio to 2 decimal places, e.g. 1.83. Round accounts receivable turnover, average collection period, inventory turnover and days in inventory to 1 decimal place, e.g. 1.8. Use 365 days for calculation. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)(a) Current ratio. enter current ratio rounded to 2 decimal places :1(b) Accounts receivable turnover. enter a number for Accounts receivable turnover in times rounded to 1 decimal place times(c) Average collection period. enter a number for Average collection period in days rounded to 1 decimal place days(d) Inventory turnover. enter a number for Inventory turnover in times rounded to 1 decimal place times(e) Days in inventory. enter a number of days in inventory rounded to 1 decimal place days(f) Free cash flow. $enter free cash flow in dollars       Accounting Business Financial Accounting ACCT ACCT-211 Share QuestionEmailCopy link Comments (0)