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Question - The following selected information is available for Bradley Corporation:
Income Statement Data -
Sales $650,000
Cost of Goods Sold 425,000
Income Before Income Taxes 78,000
Net Income 54,600
Balance Sheet Data
Beginning Balance
Ending Balance
Cash
$19,500
$15,000
Accounts Receivable (net)
65,000
60,000
Inventory
71,500
64,500
Equipment (net)
195,000
183,900
Total Assets
$351,000
$323,400
Current Liabilities
$62,400
$52,700
Long-term Notes Payable
97,500
100,000
Total Liabilities
$159,900
$152,700
Required - Use the above information to calculate the following for the current year:
(a) Current ratio.
(b) Acid-test ratio.
(c) Accounts receivable turnover.
(d) Days' sales uncollected.
(e) Inventory turnover.
(f) Days' sales in inventory.
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