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value: 5.00 points The financial information below presents selected information from the financial statements of...

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Accounting

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value: 5.00 points The financial information below presents selected information from the financial statements of Pelican Company. Sales revenue during the current year was $13,380,300 and cost of goods sold was $8,913,195 All of Pelican's sales are made on account and are due within 30 days Prior Year 568,330 4,710,000 Current Year 631,780 3,816,000 Cash and cash equivalents Accounts receivable Inventory Total current assets Total assets Total current liabilities Total liabilities 936,360 271,440 8,300,030 8,240,100 11,116,020 10,996,000 6,436,000 8,465,900 8,272,700 7,760,300 Calculate the following a. Current ratios as of the end of the current and prior year. (Round your answers to 2 decimal places.) Current YearPrior Year Current Ratio 1.28 1.07 b. Calculate the receivables turnover ratio for the current year. (Round your answer to 2 decimal places.) Receivables Turnover 3.14

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