Question 9 The comparative statements of Wahlberg Company are presented here. 2019 Wahlberg Company Income Statement For the Years Ended December 31 2020 Net sales $1,815,100 Cost of goods sold 1,011,300 Gross profit 803,800 Selling and administrative expenses 517,400 Income from operations 286,400 Other expenses and losses Interest expense 18,800 Income before income taxes 267,600 Income tax expense 80,016 Net income $ 187,584 $1,745,300 995,000 750,300 479,000 271,300 13,500 257,800 77,100 $ 180,700 2019 Wahlberg Company Balance Sheets December 31 Assets 2020 Current assets Cash $60,100 Debt investments (short-term) 68,100 Accounts receivable 116,200 Inventory 123,100 Total current assets 367,500 Plant assets (net) 604,300 Total assets $971,800 $64,600 50,200 102,900 114,500 332,200 520,500 $852,700 $160,300 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 43,600 203,900 220,000 423,900 $144,100 42,900 187,000 200,000 387,000 282,200 265,700 547,900 $971,800 304,000 161,700 465,700 $852,700 Total liabilities and stockholders' equity All sales were on account. Net cash provided by operating activities for 2020 was $232,000. Capital expenditures were $138,000, and cash dividends were $83,584. 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 Average collection period days (g) Inventory turnover times (h) Days in inventory days (i) Times interest earned times (1) Asset turnover times (g) Inventory turnover times (h) Days in inventory days (0) Times interest earned times () Asset turnover times (k) Debt to assets ratio % (1) Free cash flow $ Click if you would like to Show Work for this question: Open Show Work