Condensed statements of financial position and statement of income data for Macaron Corporation follow: MACARON CORPORATION Statement of Financial Position December 31 2021 2020 2019 Assets Current assets Cash $24.800 $19,900 $18,200 54,900 45,400 47.900 99,300 85,400 64,000 179,000 150,700 130,100 60,200 74,300 42.400 499,000 368,100 260.600 $738,200 $593.100 $433,100 Accounts receivable (net) Inventory Total current assets Long-term investments Property, plant, and equipment (net) Total assets Liabilities and Shareholders' Equity Liabilities Current liabilities Non-current liabilities Total liabilities Shareholders' equity Common shares Retained earnings Total shareholders' equity Total liabilities and shareholders' equity $85,300 $80,400 $29.900 156,100 85,700 19,900 241,400 166,100 49,800 332,200 301,700 299,800 164,600 125,300 83,500 496,800 427,000 383,300 $738,200 $593,100 $433,100 MACARON CORPORATION Statement of Income Year Ended December 31 2021 2020 Sales 695.400 450.400 448,700 300,400 246,700 150.000 148,500 83,300 98.200 66.700 Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income tax Income tax expense Net income 9.900 4.380 88,300 62.320 17,660 12,464 $70,640 $49,856 Additional information: 1. 2. The allowance for doubtful accounts was $4,800 in 2019.54.600 in 2020, and $5,000 in 2021. All sales were credit sales Net cash provided by operating activities was $119.100 in 2020 and $101,900 in 2021. Net capital expenditures were $150,000 for 2020 and $179.000 for 2021. 3. 4. (a) Calculate the following ratios for 2020 and 2021: (Round answers to 1 decimal place, e.g.5.2:1 or 5.2% or 5.2. Enter negative answers preceeding either - sign, eg. -45 or in parentheses, eg. (45.) 2021 2020 1. Current ratio : 1 1 2. 2. Receivables turnover times times 3. Inventory turnover times times Debt to total assets % 5. Times interest earned times times $ $ 6. Free cash flow 7. Gross profit margin % % . 8. Profit margin % 96 9. 9. Asset turnover times times 10. Return on assets % eTextbook and Media Save for Later Attempts: unlimited Submit