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

Sunland Medical Comparative Balance Sheet As of December 31
		2020		2019
Assets
Current assets
Cash		$390,000		$417,450
Accounts receivable, net		1,079,000		776,450
Inventory		729,000		681,100
Other current assets		381,400		247,100
Total current assets		2,579,400		2,122,100
Property, plant, & equipment, net		8,659,740		8,439,815
Total assets		$11,239,140		$10,561,915
Liabilities and Stockholders' Equity
Current liabilities		$3,178,000		$2,846,050
Long-term debt		3,702,700		3,892,600
Total liabilities		6,880,700		6,738,650
Preferred stock, $5 par value		58,900		58,900
Common stock, $0.25 par value		104,600		103,850
Retained earnings		4,194,940		3,660,515
Total stockholders' equity		4,358,440		3,823,265
Total liabilities and stockholders' equity		$11,239,140		$10,561,915

Sunland Medical Comparative Income Statement and Statement of Retained Earnings For the Year
		2020		2019
Sales revenue (all on account)		$10,177,200		$9,614,000
Cost of goods sold		5,611,950		5,298,800
Gross profit		4,565,250		4,315,200
Operating expenses		2,840,200		2,634,150
Net operating income		1,725,050		1,681,050
Interest expense		300,300		308,600
Net income before taxes		1,424,750		1,372,450
Income taxes (30%)		427,425		411,735
Net income		$997,325		$960,715
Dividends paid
Preferred dividends		29,550		29,450
Common dividends		433,350		413,100
Total dividends paid		462,900		442,550
Net income retained		534,425		518,165
Retained earnings, beginning of year		3,660,515		3,142,350
Retained earnings, end of year		$4,194,940		$3,660,515

(a-d)

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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.)

a.	Working capital		$
b.	Current ratio
c.	Acid-test ratio
d.	Accounts receivable turnover			times

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(e-f)

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.)

a.	Average collection period		days
b.	Inventory turnover		times

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(g)

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

days

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