Exercise 8 (20 Points) The financial statements of Cypress Company appear below: CYPRESS COMPANY Comparative Balance Sheet December 31, Assets Cash..... Short-term investments Accounts receivable (net) Inventory..... Property, plant and equipment (net) Total assets 2019 $ 20,000 20,000 40,000 60,000 260.000 $400,000 2018 $ 40,000 60,000 30,000 70,000 300.000 $500,000 Labilities and stockholders equity Accounts payable Short-term notes payable. Bonds payable.... Common stock Retained earnings Total liabilities and stockholders' equity. $ 20,000 40,000 80,000 150,000 110.000 $400,000 $ 30,000 90,000 160,000 150,000 70,000 $500,000 a. Additional information: The following information is provided from the income statement: Net sales, $420,000, Cost of goods sold, $280,000, Interest expense, $20,000, Income tax expense, $30,000 and Net Income. $72,000 Net Cash flows from operating activities, 582,000 and capital expenditures $15,000. G Cash dividends of $20,000 were declared and paid in 2019. d. Weighted average number of shares of common stock outstanding during 2019 was 30,000 shares. e Market value of common stock on December 31, 2019, was $20 per share. b. Instructions Using the financial statements and additional information, compute the following ratios for Cypress Company for 2019. Show all computations. Computations 1. Current ratio 2. Times interest earned 3. Accounts receivable turnover 4. Return on assets 5. Profit margin 6. Days in inventory 7. Return on common stockholders' equity 8. Free cash flows