Problem 18-02A (Video) The comparative statements of Wahlberg Company are presented here. 2019 Wahlberg Company Income Statement For the Years Ended December 31 2020 Net sales $1,812,400 Cost of goods sold 1,005,600 Gross profit 806,800 Selling and administrative expenses 518,600 Income from operations 288,200 Other expenses and losses Interest expense 18,500 Income before income taxes 269,700 Income tax expense 83,172 Net income $ 186,528 $1,745,900 982,000 763,900 479,200 284,700 14,600 270,100 76,600 $ 193,500 Wahlberg Company Balance Sheets December 31 Assets 2020 2019 $60,700 70,400 116,800 122,900 370,800 600,400 $971,200 $64,300 49,100 101,000 115,100 329,500 519,700 $849,200 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) $159,500 43,500 203,000 220,000 423,000 $144,000 42,900 186,900 200,000 386,900 281,600 301,300 Common stock ($5 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 281,600 266,600 548,200 301,300 161,000 462,300 $849,200 $971,200 All sales were on account. Net cash provided by operating activities for 2020 was $214,000. Capital expenditures were $130,000, and cash dividends were $80,928. Compute the following ratios for 2020. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, e.g. 1.65 or 1.65:1, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%. Use 365 days for calculation.) (a) Earnings per share (b) Return on common stockholders' equity % (c) Return on assets % (d) Current ratio :1 (e) Accounts receivable turnover times (f) Average collection period days (g) Inventory turnover times (h) Days in inventory days (i) Times interest earned times 6) Asset turnover times (k) Debt to assets ratio % (1) Free cash flow