QUESTION 22 Use the Information below to answer the remaining questions on this BE SURE YOUR CALCULATOR IS SET TO AT LEAST 4 DIGITS PAST THE DECIMAL! (2nd Format, 4. Enter) $900,000 400.000 $500,000 Cindy's Capers, Inc. Income Statement For the Year Ended December 31, 2020 , Sales Cost of Goods Sold Gross Margin Operating Expenses Wage Expense Rent Expense Depreciation Expense Bad Debt Expense Total Operating Expenses Operating Income Other Revenues & (Expenses) Interest Expense Taxable Income Tax Expense Net Income $290,000 36.000 30.000 8,000 $364,000 $136.000 (6.000) $130,000 39,000 S 91,000 EPS $1.65 Cindy's Capers, Inc Balance Sheet December 31. 2020 2019 2020 2019 $ 170,000 85.000 $ 78,000 9.000 3.000 12.000 $ 139,000 8,000 5,000 10.000 Assets Current Assets Cash $130,000 Accounts Receivable 80,000 Less: Allowance for Doubtful Accounts (10,000) Net Accounts Receivable 70,000 90.000 Total Current Assets 290,000 Property and Equipment Equipment 420.000 Less: Accumulated Depreciation (90.000) Liabilities Current Liabilities Accounts Payable Wages payable Interest Payable Taxes Payable Current Portion of Long- term Debt Total Current Liabilities Long-Term Debt Note Payable Total Liabilities (5.000) 80,000 70,000 320.000 Inventory 10,000 112.000 10,000 172.000 340,000 90.000 202.000 100.000 272.000 (60.000) Net Property & Equipment 330,000 280.000 8,000 Other Assets Security Deposit Owners' Equity Common Stock ($1 per share) 5,000 Paid in Capital 54,000 45.000 Retained Earnings 368.000 288.000 Total Owners' Equity 428.000 338.000 Total Liabilities and Owners' Equity $ 630.000 $610.000 10.000 10.000 Total Assets S 630.000 $ 610.000 Some of the equipment was acquired on March 30, 2020 by exchanging 500 shares of common stock worth $5.000. The additional shares of common stock were issued on September 30, 2020. The Note Payable requires payments of $10.000 per year plus interest at 10%. The company did not sell any equipment during the year. The retained earnings balance for both years is after all closing entries have been made. The market price per share at December 31, 2020 is $120.00 Some of the equipment was acquired on March 30, 2020 by exchanging 500 shares of common stock worn 55.000. The additional shares of common stock were issued on September 30, 2020. The Note Payable requires payments of $10,000 per year plus interest at 10%. The company did not sell any equipment during the year. The retained earnings balance for both years is ater all closing entries have been made. The market price per share at December 31, 2020 is $120.00 At December 31, 2020 the book value per share was approximately O $ 7.13 O $7133 O $7782 O $ 1.00 some other number QUESTION 23 At December 31, 2020, the Current Ratio was approximately 0259 O 13 O 3.66 O 169 some other number QUESTION 24 At December 31, 2020, the inventory turn was approximately O 4.44 O 5.00 O 5.71 10.00 O some other number QUESTION 25 For 2020, the price earnings ratio was approximately O 72.72 46.75 0727 O 3.64 some other number QUESTION 26 At December 31, 2020, the Debt to Equity Ratio was approximately O 22 83% O 37 92% O 21.03% 04720 % some other number QUESTION 27 For 2020, the return on assets was approximately O 21.94% 18.64% 14.44% 14.685 some other number QUESTION 28 For 2020, return on equity was approcimately O 21.94% O 21.67% O 23.76% O 16 41% some her number QUESTION 29 For 2020, the average collection period in days was approximately O 30.42 O some other number 0 33.45 O 32.16 O 1125 QUESTION 30 At December 31, 2020, the Quick Ratio was approximately 0 145 O O 1.79 O 1.16 O some other number