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 $399,000 S417,400 Accounts receivable, net 1,099,000 776,450 746,000 681,000 Inventory Other current assets 381,350 247,000 Total current assets 2,624,350 2,121,850 Property, plant, & equipment, net 8,645,005 8,440,010 Total assets $11.269,355 $10,561,860 Liabilities and Stockholders' Equity Current liabilities $3,209,000 $2.946050 Long-term debt 3,702,600 3.992,700 Total liabilities 6,911,600 6,738,750 Preferred stock, 55 par value 52,950 58.950 Common stock, S0.25 par value 104,650 103,650 Retained earnings 4194, 155 3,660,310 Total stocicholders' equity 4357,755 3,923.110 Total liabilities and stockholders' equity $11.269,355 $10,561,860 Sunland Medical Comparative Income Statement and Statement of Retained Earnings For the Year 2020 2019 Sales revenue (all on account) $10.177.250 $9,613,900 5,298,700 Cost of goods sold 5,612,700 Gross proft 4,564,550 4,315,200 Operating expenses 2,940,300 2,634,200 1.724,250 1,691.000 Nat operating income Interest expense 300,400 309,700 Natincome before taxes 1,423,650 1,372.300 Income taxes (309) 427,155 411.690 Net income $996,695 $960,610 Dividends pald Preferred dividends 29,500 29,550 Common dividends 432,350 413,050 Total dividends paid 462,850 442.600 Net income retained 533,645 519,010 Retained earnings, beginning of year 3,660,310 3,142,200 Ratained earnings, and of year $4.194.155 S3,660,310 (a-d) Calculate the following liquidity ratios for 2020. (If working capital is negative then enter with a negative sign preceding the number or parentheses.eg.-15,000 or (15,000). Round all answers except working capital to 2 decimal places eg. 255.) S a. Working capital b. Current ratio C. Acid-test ratio d Accounts receivable turnover times le-f) Calculate the following liquidity ratios for 2020. (Round average collection period to decimal place, es 25 and inventory turnover ratio to 2 decimal places.eg. 5.12. Use 365 days for calculation) 1. Average collection period times b. Inventory turnover e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer Calculats average days to sell inventory for 2020. (Round answer to decimal places, eg. 25. Use 365 days for calculation.) days Average days to sell inventory e Textbook and Media Save for Later Attempts: 0 of 3 used Submit