Essay
The financial information below presents selected information from the financial statements of Pelican Company.Sales revenue in 2014 was $13,700,300.Cost of goods sold was $8,905,195. 
A.Calculate the following.Round to two decimal places.1)Receivables turnover ratio assuming all Pelican's sales are made on account.2)Current ratios as of December 31,2014,and as of December 31,2013.3)Quick ratio as of December 31,2014,and as of December 31,2013.4)Inventory turnover ratio.
B.Evaluate the company's liquidity position at 12/31/2014.Cite any additional information not given in the problem that would be helpful in evaluating the company's liquidity.
Correct Answer:
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B.Receivables turnover is slow,assuming...View Answer
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Correct Answer:
Verified
B.Receivables turnover is slow,assuming...View Answer
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Get Access to more Verified Answers free of charge
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