The Financial Information Below Presents Selected Information from the Financial

question 23

Essay

The financial information below presents selected information from the financial statements of Pelican Company.Sales revenue in 2018 was $13,700,300.
$$\begin{array} { | l | r | r | } & 1 / 1 / 18 & \mathbf { 1 2 / 3 1 / 1 8 } \\\hline \text { Accourts receivable } & \$ 4,550,000 & \mathbf { \$ 3 , 8 0 0 , 0 0 0 } \\\hline \text { Total current assets } & \mathbf { 8 } , 700,030 & \mathbf { 8 , 4 8 0 , 1 0 0 } \\\hline \text { Total assets } & 11,100,020 & 10,980,000 \\\hline \text { Total currert liabilities } & 7,200,300 & 7,476,000 \\\hline \text { Total liabilities } & \mathbf { 8 , 4 4 9 , 9 0 0 } & \mathbf { 8 , 2 7 0 , 7 0 0 } \\\hline\end{array}$$
A.Receivables turnover assuming all Pelican's sales are made on account.
B.Receivables turnover assuming 20% of sales are made as cash sales.
C.Current ratio as of December 31,2018.
D.Debt-to-assets ratio as of December 31,2018.

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Definitions:

Directive Leader

A leadership style characterized by giving clear, explicit instructions and closely supervising task execution.

Supportive Leader

Leadership style characterized by consideration, friendliness, and support for subordinates, fostering a positive work environment.

Hersey and Blanchard

Psychologists who developed the Situational Leadership Model, which suggests that the most effective leadership style varies depending on the maturity level of team members.

Situational Leadership Model

A leadership theory proposing that effective leadership varies according to, and must adapt to, the needs of the situation and the readiness of the team being led.