The comparative balance sheets of Oriole Corporation at the beginning and end of the year 2020 appear below.

ORIOLE CORPORATION BALANCE SHEETS
		Dec. 31, 2020				Jan. 1, 2020				Inc./Dec.
Assets
Cash			$21,680				$14,700			$6,980	Inc.
Accounts receivable			107,680				89,700			17,980	Inc.
Equipment			40,680				23,700			16,980	Inc.
Less: Accumulated Depreciation-Equipment			(17,000	)			(11,000	)		6,000	Inc.
Total			$153,040				$117,100
Liabilities and Stockholders Equity
Accounts payable			$21,680				$16,700			4,980	Inc.
Common stock			101,680				81,700			19,980	Inc.
Retained earnings			29,680				18,700			10,980	Inc.
Total			$153,040				$117,100

Net income of $45,680 was reported, and dividends of $34,700 were paid in 2020. New equipment was purchased and none was sold.

Prepare a statement of cash flows for the year 2020. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

ORIOLE CORPORATION Statement of Cash Flows December 31, 2020For the Year Ended December 31, 2020For the Quarter Ended December 31, 2020
		$
	$
Net Income Decrease in Accounts Receivable Decrease in Accounts Payable Payment of Dividends Depreciation Increase in Accounts Receivable Purchase of Equipment Loss on Sale of Euipment Increase in Accounts Payable Issuance of Stock
Issuance of Stock Depreciation Purchase of Equipment Decrease in Accounts Receivable Net Income Increase in Accounts Receivable Payment of Dividends Decrease in Accounts Payable Increase in Accounts Payable Loss on Sale of Euipment
Decrease in Accounts Payable Issuance of Stock Loss on Sale of Euipment Decrease in Accounts Receivable Increase in Accounts Receivable Payment of Dividends Depreciation Net Income Increase in Accounts Payable Purchase of Equipment
Increase in Accounts Receivable Decrease in Accounts Payable Issuance of Stock Loss on Sale of Euipment Depreciation Net Income Increase in Accounts Payable Purchase of Equipment Payment of Dividends Decrease in Accounts Receivable
		$

Compute the current ratio (current assets current liabilities) as of January 1, 2020, and December 31, 2020. (Round ratios to 1 decimal place., e.g. 4.5.)

		December 31, 2020		January 1, 2020
Current ratio

Compute free cash flow for the year 2020. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Free Cash Flow

$

In light of the analysis in (part b), comment on Orioles liquidity and financial flexibility. Oriole company has goodbad liquidity and goodbad financial flexibility.