explain how you calculate everything
Condensed statements of financial position and statement of income data for Sweetwater Corporation follow: SWEETWATER CORPORATION Statement of Financial Position December 31 2021 2020 2019 Assets Current assets Cash $24,800 $20,200 $18,200 Accounts receivable (net) 55,100 44,600 47,500 Inventory 100,600 84,300 64,600 Total current assets 180,500 149.100 130,300 Long-term investments 53,700 67,500 45,400 Property, plantand equipment (net) 499,800 371,500 255,900 Total assets $734,000 $588,100 $431,600 Liabilities and Shareholders' Equity Liabilities Current liabilities $85,500 $79,200 $29,800 Non-current liabilities 154,700 84,100 20,000 Total liabilities 240,200 163,300 49,800 Shareholders' equity Common shares 329,800 299,100 299,000 Retained earnings 164,000 125,700 82,800 Total shareholders' equity 493,800 424,800 381.800 Total liabilities and shareholders' equity $734,000 $588,100 $431,600 2021 SWEETWATER CORPORATION Statement of Income Year Ended December 31 2020 Sales 702,300 450.400 Cost of goods sold 450,000 298,900 Gross profit 252,300 151.500 Operating expenses 148,600 84,300 Income from operations 103,700 67,200 Interest expense 9.900 3.720 Income before income tax 93,800 63,480 Income tax expense 18.760 12,696 Net income $75,040 $50,784 Additional information: 1. The allowance for doubtful accounts was $4,700 in 2019, $4,500 in 2020, and $4,900 in 2021. 2. All sales were credit sales. Net cash provided by operating activities was $118,500 in 2020 and $101,200 in 2021. Net capital expenditures were $151,500 for 2020 and $180,500 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, e.g.-45 or in parentheses, e.g. (45).) 2021 2020 1. Current ratio : 1 2. Receivables turnover times times 3. Inventory turnover times times % de 4. Debt to total assets 5. Times interest earned times times 6. Free cash flow $ % % 7. Gross profit margin 8. Profit margin 9. Asset turnover % % times times 10. Return on assets % % Condensed statements of financial position and statement of income data for Sweetwater Corporation follow: SWEETWATER CORPORATION Statement of Financial Position December 31 2021 2020 2019 Assets Current assets Cash $24,800 $20,200 $18,200 Accounts receivable (net) 55,100 44,600 47,500 Inventory 100,600 84,300 64,600 Total current assets 180,500 149.100 130,300 Long-term investments 53,700 67,500 45,400 Property, plantand equipment (net) 499,800 371,500 255,900 Total assets $734,000 $588,100 $431,600 Liabilities and Shareholders' Equity Liabilities Current liabilities $85,500 $79,200 $29,800 Non-current liabilities 154,700 84,100 20,000 Total liabilities 240,200 163,300 49,800 Shareholders' equity Common shares 329,800 299,100 299,000 Retained earnings 164,000 125,700 82,800 Total shareholders' equity 493,800 424,800 381.800 Total liabilities and shareholders' equity $734,000 $588,100 $431,600 2021 SWEETWATER CORPORATION Statement of Income Year Ended December 31 2020 Sales 702,300 450.400 Cost of goods sold 450,000 298,900 Gross profit 252,300 151.500 Operating expenses 148,600 84,300 Income from operations 103,700 67,200 Interest expense 9.900 3.720 Income before income tax 93,800 63,480 Income tax expense 18.760 12,696 Net income $75,040 $50,784 Additional information: 1. The allowance for doubtful accounts was $4,700 in 2019, $4,500 in 2020, and $4,900 in 2021. 2. All sales were credit sales. Net cash provided by operating activities was $118,500 in 2020 and $101,200 in 2021. Net capital expenditures were $151,500 for 2020 and $180,500 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, e.g.-45 or in parentheses, e.g. (45).) 2021 2020 1. Current ratio : 1 2. Receivables turnover times times 3. Inventory turnover times times % de 4. Debt to total assets 5. Times interest earned times times 6. Free cash flow $ % % 7. Gross profit margin 8. Profit margin 9. Asset turnover % % times times 10. Return on assets % %
