The comparative statements of Lily Company are presented here.Net salesLily CompanyIncome StatementsFor the Years Ended December 31Cost of goods soldGross profitSelling and administrative expensesIncome from operationsOther expenses and lossesInterest expenseIncome before income taxesIncome tax expenseNet incomeAssetsCurrent assetsCashDebt investments (short-term)Accounts receivable (net)InventoryTotal current assetsPlant assets (net)Total assetsLily CompanyBalance SheetsDecember 31Liabilities and Stockholders' EquityCurrent liabilitiesAccounts payableStockholders' equityCommon stock ($5 par)Retained earningsTotal stockholders' equityTotal liabilities and stockholders' equity282,200265,700547,900$971,800$1,815,1001,011,3002022803,800517,400286,4002022267,60080,016$ 187,584$60,10068,10018,800304,000161,700465,700$852,700116,200123,100367,500604.300$971,800$160,3002021$64,60050,200102,900114,500332,200520,500$852,700$144,1002021$1,745,300995,000750,300479,000271,30013,500257,80077,100$ 180,700All sales were on credit. Net cash provided by operating activities for 2022 was $232,000. Capital expenditures were $138,000, andcash dividends paid were $83,584. (d)(e)(f)(g)(h)(i)(j)(k)(1)Current ratioAccounts receivable turnoverAverage collection periodInventory turnoverDays in inventoryTimes interest earnedAsset turnoverDebt to assets ratioFree cash flow$:1timesdaystimesdaystimestimes%

Hi student Since there are multiple subparts, we will answer only first three subparts. Ratio…

Answered: (d) (e) Current ratio Accounts…

Business

Accounting

(d) (e) Current ratio Accounts receivable turnover (f) Average collection period :1 times days

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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