Problem 18-02A (Video) The comparative statements of Wahlberg Company are presented here. Wahlberg Company Income Statement For the Years Ended December 31 2020 2019 Net sales $1,810,600 $1,749,200 Cost of goods sold 1,013,100 999,000 Gross profit 797,500 750,200 Selling and administrative expenses 519,000 473,600 Income from operations 278,500 276,600 Other expenses and losses Interest expense 17,700 13,600 Income before income taxes 260,800 263,000 Income tax expense 82,891 77,700 Net income $ 177,909 $ 185,300 Wahlberg Company Balance Sheets December 31 2020 2019 Assets Current assets Cash $59,800 68,800 117,600 123,300 369,500 596,100 $965,600 $64,400 50,200 102,300 114,400 331,300 516,800 $848,100 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 Total stockholders' equity Total liabilities and stockholders' equity $160,900 43,100 204,000 220,000 424,000 $145,400 42,500 187,900 200,000 387,900 276,500 265,100 541,600 $965,600 297,400 162,800 460,200 $848,100 All sales were on account. Net cash provided by operating activities for 2020 was $200,000. Capital expenditures were $124,000, and cash dividends were $75,609. Compute the following ratios for 2020. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, eg. 1.65 or 1.65:1, and all other answers to 1 decimal place, e.g. 6.8 or 6.86 Use 365 days for calculation) (a) wings per share 35 Retum on common stockholders' equity Retum an assets (d) Current ratio times (e) Accounts receivable tumover (1) Average collection period days (9) Inventory tumover times (h) Days in inventory (0) Times interested times Asset turnover times (k) Debt toute Free cash flow