The financial information below presents selected information from the financial statements of Pelican Company.Sales revenue during the current year was $13,700,300 and cost of goods sold was $8,905,195.All of Pelican's sales are made on account and are due within 30 days.
Required:
Part a.Current ratios as of the end of the current and prior year.
Part b.Calculate the receivables turnover ratio for the current year.
Part c.Calculate the days to collect for the current year.
Part d.Calculate the inventory turnover ratio for the current year.
Part d.Calculate the days to sell for the current year.
Part e.Evaluate the company's liquidity position at the end of the current year.Cite any additional information not given in the problem that would be helpful in evaluating the company's liquidity.
Round all ratios to two decimal places.
Definitions:
Central Nervous System
The segment of the nervous system that includes the brain and spinal cord, tasked with processing sensory data and generating appropriate responses.
Peripheral Nervous System
The part of the nervous system outside the brain and spinal cord, including the nerves and ganglia.
Cerebral Cortex
The outermost layer of the brain, involved in higher functions such as sensory processing, thought, reasoning, and memory.
Split Brain
A condition resulting from the severance or lesion of the corpus callosum, leading to impaired communication between the brain's left and right hemispheres.
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