The financial information below presents selected information from the financial statements of Pelican
Company. Sales revenue in 2011 was $13,700,300. Calculate the following:
A) Receivables turnover ratio assuming all Pelican's sales are made on account.
B) Receivables turnover ratio assuming 20% of sales are made as cash sales.
C) Current ratio as of December 31, 2011.
D) Debt to assets ratio as of December 31, 2011.

Question

The financial information below presents selected information from the financial statements of Pelican
Company. Sales revenue in 2011 was $13,700,300.  Calculate the following:
A) Receivables turnover ratio assuming all Pelican's sales are made on account. 
B) Receivables turnover ratio assuming 20% of sales are made as cash sales. 
C) Current ratio as of December 31, 2011. 
D) Debt to assets ratio as of December 31, 2011.

Quizplus · Accepted Answer

The Answer of The financial information below presents selected information from the financial statements of Pelican
Company. Sales revenue in 2011 was $13,700,300.  Calculate the following:
A) Receivables turnover ratio assuming all Pelican's sales are made on account. 
B) Receivables turnover ratio assuming 20% of sales are made as cash sales. 
C) Current ratio as of December 31, 2011. 
D) Debt to assets ratio as of December 31, 2011.

The Financial Information Below Presents Selected Information from the Financial