13. Lily Company had the following account totals as of December 31, 20X2. Cost of goods sold $ 150,000 Accounts receivable 100,000 Rent revenue 10,000 Accounts payable 25,000 Sales 200,000 Inventory 50,000 Bank Loan Payable* 20,000 Cash 18,000 Retained earnings (beginning of year, January 1, 20X2) 80,000 Prepaid insurance (6-month insurance policy) 15,000 Paid-in capital 38,000 Equipment 45,000 Unearned rent revenue (9-month contract) 5,000 *Of the $20,000 bank loan payable, $3,000 will be repaid in 20X3. What is Lily Company's CURRENT RATIO? 5.74 6.14 4.06 5.90 5.5514. The following items have been extracted from the financial statements of Lorien Company for the year 20X1. Total liabilities $700 Net income 50 Gross profit 400 EBIT (also called operating income) 220 Sales 1,000 Total assets 1,600 Income tax expense 40 Cost of goods sold 600 Note: This list does not include all of the items in Lorien's 20X1 financial statements. However, the list does include all of the items you need to correctly answer the question below. What is the value of Lorien Company's TIMES INTEREST EARNED ratio for 20X1? 1.69 3.08 3.38 3.00 1.25 5.50 4.40 2.69