The Financial Information Below Presents Selected Information from the Financial

question 101

Essay

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.

Understand the financing options available to entrepreneurs, including the differences between debt and equity financing.

Recognize the challenges and strategies related to establishing a new business, including business planning and leadership transition planning.

Understand the definition and importance of economic stability.

Comprehend the principle of ceteris paribus and its application in economic models.

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Definitions:

Dred Scott Decision

A landmark 1857 Supreme Court case that held African Americans, whether enslaved or free, could not be American citizens and therefore had no standing to sue in federal court, and that the federal government had no power to regulate slavery in the federal territories acquired after the creation of the United States.

James McCune Smith

The first African American to hold a medical degree and an influential abolitionist and author in the 19th century America.

John McLean

A prominent figure in U.S. history, often associated with his role as a justice on the Supreme Court or his contributions to American political and legal systems.