ed Retu s Weygandt, Accounting Principles, 13e Help System Announcements Question 4 The comparative statements of Wahlberg Company are presented here. Wahlberg Company Income Statement For the Years Ended December 31 2020 Net sales $1,810,000 Cost of goods sold 1,005,000 Gross profit 805,000 Selling and administrative expenses 511,000 Income from operations 294,000 Other expenses and losses Interest expense 17,000 Income before income taxes 277,000 Income tax expense 77,500 Net income $ 199,500 2019 $1,745,000 970,000 775,000 472,000 303,000 13,000 290,000 76,000 $ 214,000 Wahlberg Company Balance Sheets December 31 Assets 2020 2019 Current assets Cash Debt investments (short-term) Accounts receivable $59,000 68,000 116.000 $63,000 49,000 101.000 S Help System Announcements Income tax expense 77,500 $ 199,500 76,000 $ 214,000 Net income Wahlberg Company Balance Sheets December 31 2020 2019 $59,000 68,000 116,000 122,000 365,000 595,000 $960,000 $63,000 49,000 101,000 114,000 327,000 515,000 $842,000 Assets Current assets Cash Debt Investments (short-term) Accounts receivable Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock ($5 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $159,000 42,000 201,000 220,000 421,000 $144,000 41,000 185,000 200,000 385,000 275,000 264,000 539,000 $960,000 295,000 162,000 457,000 $842,000 All sales were on account. Net cash provided by operating activities for 2020 was $257,0 Compute the following ratios for 2020. (Round Earnings per share. Current ratio and e... 6.8 or 6.8%. Use 365 days for calculation.) (a) Earnings Dershane CALCULATON Stockholders' equity Common stock ($5 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 275,000 264,000 539,000 $960,000 295,000 162,000 457,000 $842,000 All sales were on account. Net cash provided by operating activities for 2020 was $257,000. Capital expenditures were $123,000, and cash dividends were $97,500. Compute the following ratios for 2020. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, 6.9.1.65 or 1.65:1, and all other an e... 6.8 or 6.896. Use 365 days for calculation.) (a) Earnings per share $ (b) % Return on common stockholders' equity Return on assets (c) % (d) Current ratio 21 Accounts receivable turnover times Average collection period days times (9) Inventory turnover (h) Days in inventory days times (1) Times interest earned times 6) Asset turnover % Debt to assets ratio (1) Free cash flow VIDEO SIMILAR PROBLEM LINK TO TEXT SAVER Question Attempts 0 of 4 used