Exercise 13-09 Blossom Company has these comparative balance sheet data: 2019 BLOSSOM COMPANY Balance Sheets December 31 2020 Cash $ 21,630 Accounts receivable (net) 100,940 Inventory 86,520 Plant assets (net) 288,400 $497,490 Accounts payable $ 72,100 Mortgage payable (15%) 144,200 Common stock, $10 par 201,880 Retained earnings 79,310 $497,490 $ 43,260 86,520 72,100 259,560 $461,440 $ 86,520 144,200 173,040 57,680 $461,440 Additional information for 2020: 1. Net income was $32,400. 2. Sales on account were $376,500. Sales returns and allowances amounted to $26,700. 3. Cost of goods sold was $202,100. 4. Net cash provided by operating activities was $59,100. 5. Capital expenditures were $29,400, and cash dividends were $17,300. Compute the following ratios at December 31, 2020. (Round current ratio and inventory turn Use 365 days for calculation.) (a) Current ratio. HIGH Common stock, $10 par Retained earnings 201,880 79,310 173,040 57,680 $461,440 $497,490 Additional information for 2020: 1. Net income was $32,400. 2. Sales on account were $376,500. Sales returns and allowances amounted to $26,700. 3. Cost of goods sold was $202,10 4. Net cash provided by operating activities was $59,100. 5. Capital expenditures were $29,400, and cash dividends were $17,300. it ratio and inventor Compute the following ratios at December 31, 2020. (Round cu Use 365 days for calculation.) (a) Current ratio. (b) Accounts receivable turnover times (c) Average collection period. days (d) Inventory turnover. times (e) Days in inventory, days (f) Free cash flow. $