Financial statements for the Genatron Manufacturing Corporation for the years 2020 and 2019 are shown. Genatron Manufacturing Corporation Balance Sheet 2020 2019 ASSETS Cash $40,975 $51,985 Accts. receivable 260,795 200,438 Inventory 501,786 451,805 Total current assets 803,556 704,228 Fixed assets, net 400,000 300,000 Total assets $1,203,556 $1,004,228 LIABILITIES AND EQUITY Accts. payable $171,753 $132,143 Bank loan 90,566 90,566 Accruals 70,000 50,000 Total current liabilities 332,319 272,709 Long-term debt, 12% 393,677 300,544 Common stock, $10 par 300,000 300,000 Capital surplus 45,950 45,950 Retained earnings 131,610 85,025 Total liabilities & equity $1,203,556 $1,004,228 Genatron Manufacturing Corporation Income Statement 2020 2019 Net sales $1,516,968 $1,316,968 Cost of goods sold 910,181 790,181 Gross profit 606,787 526,787 Expenses: General and administrative 150,000 150,000 Marketing 150,000 130,000 Depreciation 50,040 42,332 Interest 55,330 44,854 Earnings before taxes 201,417 159,601 Income taxes 74.192 61.885 Net income $127,225 $97,716 (a) Calculate Genatron's dollar amount of net working capital in each year. 2020 2019 Net working capital $ e Textbook and Media Save for Later Attempts: 0 of 2 used Submit Answer (b) Calculate the current ratio and the acid-test ratio in each year. (Round answers to 2 decimal places, eg. 52.75.) 2020 2019 Current ratio Acid-test ratio e Textbook and Media Save for Later Attempts: 0 of 2 used Submit Answer (c) Calculate the average collection period and the inventory-turnover ratio in each year. (Use 365 days for calculation. Round Average collection period to 1 decimal place, eg. 527.5 and other answers to 2 decimal places, eg. 52.75.) 2020 2019 Average collection period days days Inventory turnover ratio e Textbook and Media Save for Later Attempts: 0 of 2 used Submit