Vaughn Company has these comparative balance sheet data: Vaughn Company Balance Sheets December 31 2022...
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Vaughn Company has these comparative balance sheet data: Vaughn Company Balance Sheets December 31 2022 2021 Cash $ 15,000 $ 29,000 Accounts receivable (net) 69,000 60,000 Inventory 61,000 51,000 Plant assets (net) 204,000 178,000 $349,000 $318,000 Accounts payable $50,000 $60,500 Bonds payable (15%) 108,000 108,000 Common stock, $10 par 145,000 122,000 Retained earnings 46,000 27,500 $349,000 $318,000 Additional information for 2022: 1. Net income was $25,000. 2. Sales on account were $413,650. Sales returns and allowances amounted to $25,000. 3. Cost of goods sold was $196,000. 4. Net cash provided by operating activities was $46,200. 5. Capital expenditures were $22,600, and cash dividends paid were $10,700. 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. 1.67. Round Accounts receivable turnover, Average collection period, Inventory turnover and Days in inventory to 1 decimal place, e.g. 1.6.) (a) Current ratio :1 (b) Accounts receivable turnover times (c) Average collection period days (d) Inventory turnover times (e) Days in inventory days (f) Free cash flow $
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