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:
Directive Leadership Style
A leadership approach characterized by providing clear instructions, setting performance standards, and closely supervising tasks.
Telling Style
A communication approach characterized by directly informing or instructing others without seeking their input.
Telling
A leadership behavior characterized by giving clear instructions and guidance to followers, informing them exactly how and when to complete the task.
Directive Approach
A leadership style in which decisions and policies are made by the leader and directly communicated to subordinates, with little input from them.
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