The Financial Information Below Presents Selected Information from the Financial

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.

Correct Answer:

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Part a
Current ratio = Current assets ÷ ...

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