number 11

Financial statements for the Genatron Manufacturing Corporation for the years 2020 and 2019 are shown. Genatron Manufacturing Corporation Balance Sheet 2020 2019 ASSETS Cash $41,095 $50,409 Accts receivable 260,175 200,477 Inventory 1502,879 451,980 Total current assets 804.149 702.866 Fixed assets, net 400,000 300,000 Total assets $1,204,149 $1,002,866 LIABILITIES AND EQUITY Accts. payable $170,443 $132,688 Bank loan 90,337 90,337 Accruals 70.000 50,000 Total current liabilities 330,780 273,025 Long-term debt, 12% 397,261 293,311 Common stock, $10 par 300,000 300,000 Capital surplus 44.811 44.811 Retained earnings 131.297 91.719 Total liabilities & equity $1,204,149 $1.002.866 Genatron Manufacturing Corporation Income Statement 2020 2019 Net sales $1,514,514 $1,314,514 Cost of goods sold 908,708 788.708 Gross profit 605,806 525,806 Expenses: General and administrative 150.000 150.000 Marketing 150.000 130.000 Depreciation 51.086 42,374 Interest 55.913 44.922 Earnings before taxes 198.807 158.510 Income taxes 72.154 61.149 Net income $126,653 $97,361 (a) Calculate Genatron's dollar amount of net working capital in each year. 2020 2019 Networking capital $ $ 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 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, es. 527.5 and other answers to 2 decimal places, eg. 52.75.) 2019 2020 days days Average collection period Inventory turnover ratio