Sandhill Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2019 and 2020 follow.

Sandhill Medical

Comparative Balance Sheet

As of December 31 .

2020 2019

Assets

Current assets

Cash $376,000 $417,500

Accounts receivable, net 1,055,000 776,400

Inventory 731,000 681,050

Other current assets 381,400 247,050

Total current assets 2,543,400 2,122,000

Property, plant, & equipment, net 8,720,425 8,439,980

Total assets $11,263,825 $10,561,980

Liabilities and Stockholders' Equity

Current liabilities $3,203,000 $2,846,000

Long-term debt 3,702,700 3,892,700

Total liabilities 6,905,700 6,738,800

Preferred stock, $5 par value 58,900 58,900

Common stock, $0.25 par value 104,600 103,800

Retained earnings 4,194,625 3,660,480

Total stockholders' equity 4,358,125 3,823,180

Total liabilities and stockholders' equity $11,263,825 $10,51,980

Sandhill Medical

Comparative Income Statement and Statement of Retained Earnings

For the Year

2020 2019

Sales revenue (all on account) $10,177,200 $9,613,900

Cost of goods sold 5,612,200 5,298,750

Gross profit 4,565,000 4,315,150

Operating expenses 2,840,250 2,634,150

Net operating income 1,724,750 1,681,000

Interest expense 300,400 308,600

Net income before taxes 1,424,350 1,372,400

Income taxes (30%) 427,305 411,720

Net income $977,045 $960,680

Dividends paid

Preferred dividends 29,500 29,500

Common dividends 433,400 413,050

Total dividends paid 462,900 442,600

Net income retained 534,145 518,080

Retained earnings, beginning of year 3,660,480 3,142,400

Retained earnings, end of year $4,194,625 $3,660,480

Calculate the following liquidity ratios for 2020. (If working capital is negative then enter with a negative sign preceding the number or parentheses, e.g. -15,000 or (15,000). Round all answers except working capital to 2 decimal places, e.g. 2.55.)

Working capital

Current ratio

Acid-test ratio

Accounts receivable turnover

Calculate the following liquidity ratios for 2020. (Round average collection period to 0 decimal place, e.g. 25 and inventory turnover ratio to 2 decimal places, e.g. 5.12. Use 365 days for calculation.)

Average collection period

Inventory turnover

Calculate average days to sell inventory for 2020. (Round answer to 0 decimal places, e.g. 25. Use 365 days for calculation.)

Average days to sell inventory