A comparative balance sheet for Headland Corporation is presented as follows.

December 31

Assets

2020

2019

Cash $ 72,860 $ 22,000

Accounts receivable 84,840 68,980

Inventory 182,840 191,980

Land 73,840 112,980

Equipment 262,840 202,980

Accumulated Depreciation-Equipment (71,840 ) (44,980 )

Total $605,380 $553,940

Liabilities and Stockholders' Equity

Accounts payable $ 36,840 $ 49,980

Bonds payable 150,000 200,000

Common stock ($1 par) 214,000 164,000

Retained earnings 204,540 139,960

Total $605,380 $553,940

Additional information:

1. Net income for 2020 was $130,680. No gains or losses were recorded in 2020.

2. Cash dividends of $66,100 were declared and paid.

3. Bonds payable amounting to $50,000 were retired through issuance of common stock.

Determine Headland Corporation's current cash debt coverage, cash debt coverage, and free cash flow. (Round current cash debt coverage and cash debt coverage to 2 decimal places, e.g. 0.67.)

Current cash debt coverage

:1

Cash debt coverage

:1

Free cash flow

$

Comment on its liquidity and financial flexibility.

Headland has

liquidity. Its financial flexibility is

.