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Selected financial data for Wilmington Corporation is presented below. WILMINGTON CORPORATION Balance Sheet As of December 31 2020 2019 Current Assets Cash and cash equivalents

Selected financial data for Wilmington Corporation is presented below.

WILMINGTON CORPORATION

Balance Sheet

As of December 31

2020

2019

Current Assets

Cash and cash equivalents

$ 634,527

$ 335,597

Marketable securities

166,106

187,064

Accounts receivable (net)

284,226

318,010

Inventories

466,942

430,249

Prepaid expenses

60,906

28,060

Other current assets

83,053

85,029

Total Current Assets

1,695,760

1,384,009

Property, plant and equipment

1,384,217

625,421

Long-term investment

568,003

425,000

Total Assets

$3,647,980

$2,434,430

Current Liabilities

Short-term borrowings

$ 306,376

$ 170,419

Current portion of long-term debt

155,000

168,000

Accounts payable

279,522

314,883

Accrued liabilities

301,024

183,681

Income taxes payable

107,509

196,802

Total Current Liabilities

1,149,431

1,033,785

Long-term debt

500,000

300,000

Deferred income taxes

236,519

288,644

Total Liabilities

$1,885,950

$1,622,429

Common stock

$ 425,250

$ 125,000

Additional paid-in capital

356,450

344,335

Retained earnings

980,330

342,666

Total Stockholders' Equity

1,762,030

812,001

Total Liabilities and Stockholders' Equity

$3,647,980

$2,434,430

Selected Income Statement Data for the year ending December 31, Year 2020:

Net sales

$4,885,340

Cost of goods sold

(2,906,526)

Selling expenses

(884,685)

Operating income

1,094,129

Interest expense

(55,240)

Earnings before income taxes

1,038,889

Income tax expense

(401,225)

Net income

$ 637,664

Selected Statement of Cash Flow Data for the year ending December 31, Year 2020:

Cash flows from operations

$1,601,692

Capital expenditures

$745,862

Wilmington Corporations quick ratio changed by what percentage from 2019 to 2020?

+ 16.0%

+ 13.8%

+ 86.2%

+ 10.4%

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