Question 9 The comparative statements of Wahlberg Company are presented here. Wahlberg Company Income Statement For the Years Ended December 31 2020 Net sales $1,813,600 Cost of goods sold 1,013,400 Gross profit 800,200 Selling and administrative expenses 514,800 Income from operations 285,400 Other expenses and losses Interest expense 17,400 Income before income taxes 268,000 Income tax expense 78,019 Net income $ 189,981 2019 $1,746,200 990,000 756,200 474,000 282,200 14,400 267,800 77,600 $ 190,200 Wahlberg Company Balance Sheets December 31 2020 2019 Assets Current assets Cash $60,000 $64,700 RCE Wahlberg Company Balance Sheets December 31 Assets 2020 2019 $60,000 70,200 117,400 123,700 371,300 598,900 $970,200 $64,700 49,600 101,100 115,500 330,900 523,900 $854,800 Cudy. 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 $160,800 43,500 204,300 220,000 424,300 $144,700 41,800 186,500 200,000 386,500 275,600 270,300 300,100 168,200 Assignment JRCES (b) Return on common stockholders' equity CALCULATOR (c) Return on assets (d) Current ratio (e) Accounts receivable turnover times (0) Average collection period days (9) Inventory turnover times (h) Days in inventory days tudy. (0) Times interest earned times 6) Asset turnover times (k) Debt to assets ratio (0) Free cash flow Click if you would like to Show Work for this question: Oreo Show Work By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your inst Question Attempts: 0 of SUURI The comparative statements of Wahlberg Company are presented here. Wahlberg Company Income Statement For the Years Ended December 31, 2020 2019 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses Interest expense Income before income taxes Income tax expense $1,813,600 1,013,400 800,200 514,800 285,400 $1,746,200 990,000 756,200 474,000 282,200 17,400 268,000 78,019 $ 189,981 14,400 267,800 77,600 $ 190,200 Net income Wahlberg Company Balance Sheets December 31 Assets 2020 2019 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 $60,000 70,200 117,400 123,700 371,300 598,900 $970,200 $64,700 49,600 101,100 115,500 330,900 523,900 $854,800 $160,800 43,500 204,300 220,000 424,300 $144,700 41,800 186,500 200,000 386,500 204,300 220,000 424,300 186,500 200,000 386,500 Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock ($5 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 275,600 270,300 545,900 $970,200 300,100 168,200 468,300 $854,800 All sales were on account. Net cash provided by operating activities for 2020 was $230,0 Compute the following ratios for 2020. (Round Earnings per share, Current ratio and answers to 1 decimal place, e.g. 6.8 or 6.8%. Use 365 days for calculation.) (a) Earings per share (b) Return on common stockholders' equity (c) Return on assets (d) Current ratio (e) Accounts receivable turnover times Average collection period days times (9) Inventory turnover (h) Days in inventory days times (0) Times interest earned Asset turnover times 6) (k) Debt to assets ratio (1) Free cash flow n Show Click if IVOU would like to show. Work for this questioni