Problem 13-2A Your answer is partially correct. Try again. The comparative statements of Sheridan Company are presented here: SHERIDAN COMPANY Income Statements For the Years Ended December 31 2019 Net sales $1,897,840 Cost of goods sold 1,065,840 Gross profit 832,000 Selling and administrative expenses 507,300 Income from operations 324,700 Other expenses and losses Interest expense 23,800 Income before income taxes 300,900 Income tax expense 93,800 Net income $207,100 2018 $1,757,800 1,013,300 744,500 486,300 258,200 21,800 236,400 74,800 $161,600 Balance Sheets December 31 Assets 2019 2018 $60,100 74,000 125,100 127,800 $64,200 50,000 110,100 117,300 387,000 662,000 $1,049,000 341,600 533,300 $874,900 Current assets Cash Debt investments (short-term) Accounts receivable Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock ($5 par) Retained earnings $167,300 45,300 $152,700 43,800 212,600 233,000 445,600 196,500 213,000 409,500 290,000 313,400 603,400 $1,049,000 300,000 165,400 465,400 $874,900 Total stockholders' equity Total liabilities and stockholders' equity All sales were on account. Net cash provided by operating activities for 2019 was $239,000. Capital expenditures were $136,000, and cash dividends were $59,100. Compute the following ratios for 2019. (Round free cash flow to O decimal places, e.g. 5,275 and all other answers to 2 decimal places, e.g. 1.83 or 1.83%. Use 365 days for calculation.) (a) Earnings per share 3.57 (b) Return on common stockholders' equity (c) Return on assets I 21.53 (d) Current ratio 1.82 (e) Accounts receivable turnover 16.14 times (f) Average collection period 22 days (9) Inventory turnover 8.70 times (h) Days in inventory - 42 days (1) Times interest earned T 13.64 times () Asset turnover 1.97 times (k) Debt to assets ratio I 42.48 % (1) Free cash flow J 43900