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a. Calculate the current ratio

b. Wahlberg issued common stock at the par value $10,000. What effect would this transaction have on the currebt ratio. Increase, decrease or stay the same?

c. What would be the effect of the entry above on the devt to asset ratio?

d. wahlberg performed services for clients, for which $1,300 was collected in casg and $670 was billed to the clients. What effect would this transaction have on the Interest Coverage ratio?

1 2 3 Wahlberg Company Income Statements For the Years Ended December 31 4 $ 2020 1,000,000 750,000 250,000 150,000 200,000 $ $ $ 25,000 175,000 75,000 100,000 $ 5 6 Net sales 7 Cost of goods sold 8 Gross profit 9 Selling and administrative expenses 10 Income from operations 11 Other expenses and losses 12 Interest expense 13 Income before income taxes 14 Income tax expense 15 Net income 16 17 Wahlberg Company 18 Balance Sheets 19 31-Dec 20 21 Assets 22 Current assets 23 Cash 24 Debt investments (short-term) 25 Accounts receivable 26 Inventory 27 Total current assets 28 Plant assets (net) 29 Total assets 30 Liabilities and Stockholders' Equity 2020 $ 60,100 74,000 117,800 126,000 377 900 649,000 1,026,900 $ 1 1 1 1 - Clipboard Font Aligne G42 C D F 1 2 3 A B Wahlberg Company Income Statements For the Years Ended December 31 $ 2020 1000.000 750.000 250.000 50.000 200 000 $ 25,000 175 000 75,000 100 000 $ 2020 5 Net sales 7 Cost of goods sold 8 Gross profit 9 Selling and administrative expenses 10 Income from operations 11 Other expenses and losses 12 Interest expense 13 Income before income taxes 14 Income taxexpense 15 Net Income 16 17 Wahlberg Company 18 Balance Sheets 19 31-Dec 20 21 Assets 22 Current assets 23 Cash 24 Debt investments (short-term) 25 Accounts receivable 26 Inventory 27 Total current assets 28 Plant assets (net) 23 Total assets 30 Liabilities and Stockholders' Equity Current liabilities 132 Accounts payable 33 Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock (5pa Pewned earnings HO Tocal stockholders equity Total abilities and stockholders equity 42 $ 60.100 74.000 117.800 126.000 377 900 649.000 1026.900 $ $ 160.000 43.500 203.500 220.000 423.500 290.000 313,400 603.400 1026.900 Sheet READY