The financial information below presents selected information from the financial statements of Pelican Company. Sales revenue during the current year was $13,460,300 and cost of goods sold was $8,911,195. All of Pelican's sales are made on account and are due within 30 days. Prior Year Current Year
Cash and cash equivalents $ 564,330 $ 623,780
Accounts receivable 4,670,000 3,812,000
Inventory 932,360 1,259,440
Total current assets 8,400,030 8,300,100
Total assets 11,112,020 10,992,000
Total current liabilities 7,620,300 6,696,000
Total liabilities 8,461,900 8,264,700
Calculate the following:
a. Current ratios as of the end of the current and prior year. (Round your answers to 2 decimal places.)
b. Calculate the receivables turnover ratio for the current year. (Round your answer to 2 decimal places.)
c. Calculate the days to collect for the current year. (Round your intermediate calculations and final answers to 2 decimal place.)
d. Calculate the inventory turnover ratio for the current year. (Round your answer to 2 decimal places.)
e. Calculate the days to sell for the current year. (Round your intermediate calculations and final answers to 2 decimal place.)