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Do It! Review 10-5 Cullumber Company provides you with the following balance sheet information as of December 31, 2019 10,000 Current liabilities $12,000 11,000 12,000

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Do It! Review 10-5 Cullumber Company provides you with the following balance sheet information as of December 31, 2019 10,000 Current liabilities $12,000 11,000 12,000 35000 Total labilities and stockholders' equity 35,000 Current assets Long-term assets 25,000 Long-term liabilities Stockholders' equity Total assets In addition, Cullumber reported net income for 2019 of $15,500, income tax expense of $3,200, and interest expense of $1,000. (Round ratios to 2 decimal places, e.g. 2.75:1. Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45)) Compute the current ratio and working capital for Cullumber for 2019 Current ratio Working capital Assume that at the end of 2019, Cullumber used $2,800 cash to pay off $2,800 of accounts payable. How would the current ratio and working capital have changed? Current ratio Working capital Compute the debt to assets ratio and the times interest earned ratio for Cullumber for 2019 Debt to assets ratio Times interest earned ratio

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