Comparative financial statements for Wildhorse and Novak Ltd. are shown below.

WILDHORSE AND NOVAK LTD. Income Statement Year Ended December 31
		2021			2020
Net sales		$900,000			$840,000
Cost of goods sold		625,000			575,000
Gross profit		275,000			265,000
Operating expenses		154,000			150,000
Profit from operations		121,000			115,000
Other revenues and expenses
Interest expense		30,000			20,000
Profit before income tax		91,000			95,000
Income tax expense		27,000			20,000
Profit		$64,000			$75,000

WILDHORSE AND NOVAK LTD. Balance Sheet December 31
Assets		2021		2020		2019
Cash		$94,000		$84,000		$10,000
Accounts receivable		112,000		112,000		110,000
Inventories		140,000		135,000		96,000
Prepaid expenses		25,000		23,000		114,000
Land, buildings, and equipment		390,000		305,000		300,000
Total assets		$761,000		$659,000		$630,000
Liabilities and Shareholders Equity
Liabilities
Notes payable		$110,000		$100,000		$100,000
Accounts payable		43,000		40,000		50,000
Accrued liabilities		32,000		40,000		30,000
Bonds payable, due 2024		190,000		150,000		181,000
Total liabilities		375,000		330,000		361,000
Shareholders equity
Common shares (20,000 issued)		200,000		200,000		200,000
Retained earnings		186,000		129,000		69,000
Total shareholders equity		386,000		329,000		269,000
Total liabilities and shareholders equity		$761,000		$659,000		$630,000

Additional information:

1.		Seventy-five percent of the sales were on account.
2.		The allowance for doubtful accounts was $3,000 in 2021, $5,000 in 2020, and $2,500 in 2019.
3.		In 2021 and 2020, dividends of $3,000 and $9,000, respectively, were paid to the common shareholders.
4.		Cash provided by operating activities was $103,500 in 2021 and $129,000 in 2020.
5.		Cash used by investing activities was $115,500 in 2021 and $32,000 in 2020.

(a)

Calculate all possible liquidity, solvency, and profitability ratios for 2021 and 2020. (Round answers for Collection period, Days sales in inventory, Operating cycle and Free cash flow to 0 decimal places, e.g. 125. Round answer for Earnings per share to 2 decimal places, e.g. 12.50. Round all other answers to 1 decimal place, e.g. 12.5 or 12.5%. Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

					2021			2020
Liquidity Ratios
	1.		Current ratio			: 1			: 1
	2.		Acid-test ratio			: 1			: 1
	3.		Receivables turnover			times			times
	4.		Collection period			days			days
	5.		Inventory turnover			times			times
	6.		Days sales in inventory			days			days
	7.		Operating cycle			days			days
Solvency Ratios
	8.		Debt to total assets			%			%
	9.		Interest coverage			times			times
	10.		Free cash flow		$			$
Profitability Ratios
	11.		Gross profit margin			%			%
	12.		Profit margin			%			%
	13.		Asset turnover			times			times
	14.		Return on assets			%			%
	15.		Return on equity			%			%
	16.		Earnings per share		$			$
	17.		Payout ratio			%			%