## (solution) Exercise 13-9 Your answer is partially correct. Try again. Kinder

Exercise 13-9

Kinder Company has these comparative balance sheet data:

 KINDER COMPANYBalance SheetsDecember 31 2014 2013 Cash \$ 34,290 \$ 68,580 Accounts receivable (net) 160,020 137,160 Inventory 137,160 114,300 Plant assets (net) 457,200 411,480 \$788,670 \$731,520 Accounts payable \$ 114,300 \$ 137,160 Mortgage payable (15%) 228,600 228,600 Common stock, \$10 par 320,040 274,320 Retained earnings 125,730 91,440 \$788,670 \$731,520

 1 Net income was \$28,200. 2 Sales on account were \$393,000. Sales returns and allowances amounted to \$29,500. 3 Cost of goods sold was \$229,000. 4 Net cash provided by operating activities was \$59,500. 5 Capital expenditures were \$29,000, and cash dividends were \$17,700.

Compute the following ratios at December 31, 2014. (Round all answers to 2 decimal places, e.g. 1.83.)

 (a) Current ratio. :1 (b) Accounts receivable turnover. times (c) Average collection period. days (d) Inventory turnover. times (e) Days in inventory. days (f) Cash debt coverage ratio. times (g) Current cash debt coverage ratio. times (h) Free cash flow. \$

Kinder Company has these comparative balance sheet data:

KINDER COMPANY

Balance Sheets

Dec-31

Cash

Accounts receivable (net)

Inventory

Plant assets (net)

Accounts payable

Mortgage payable (15%)...

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