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See screenshots below and answer the following questions: Calculate the following liquidity ratios for 2020. (If working capital is negative then enter with a negative

See screenshots below and answer the following questions:

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 turnovertimes

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 perioddays
  • Inventory turnovertimes

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 inventorydays

image text in transcribedimage text in transcribed
Carla Vista Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2019 and 2020 follow. Carla Vista Medical Comparative Balance Sheet As of December 31 Assets Current assets Cash Accounts receivable, net Inventory Other current assets Total current assets Property, plant, & equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities Long-term debt Total liabilities Preferred stock, $5 par value Common stock, $0.25 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 2020 2019 $399,000 $417,350 1,082,000 776,400 738,000 681,000 381,300 247,100 2,600,300 2,121,850 8,619,910 8,440,065 $11,220,210 $10,561,915 $3,159,000 $2,846,000 3,702,700 3,892,700 6,861,700 6,738,700 58,900 58,900 104,600 103,850 4,195,010 3,660,465 4,358,510 3,823,215 $11,220,210 $10,561,915 Carla Vista 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 5,611,750 5,298,700 Gross prot 4,565,450 4,315,200 Operating expenses 2,840,300 2,634,100 Net operating income 1,725,150 1,681,100 Interest expense 300,300 308,650 Net income before taxes 1,424,850 1,372,450 Income taxes (30%) 427,455 411,735 Net income $997,395 $960,715 Dividends paid Preferred dividends 29,500 29,550 Common dividends 433,350 413,100 Total dividends paid 462,850 442,650 Net income retained 534,545 5 18,065 Retained earnings, beginning of year 3,660,465 3,142,400 Retained earnings, end of year $4,195,010 $3,660,465 {a-r'll

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