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The comparative statement of financial position of Culver Corporation as at December 31, 2020, follows: CULVER CORPORATION Statement of Financial Position December 31 December 31
The comparative statement of financial position of Culver Corporation as at December 31, 2020, follows: CULVER CORPORATION Statement of Financial Position December 31 December 31 Assets 2020 2019 Cash $ 54,500 $ -1,500 Accounts receivable 89.100 88,200 27,800 22,300 Equipment Less: Accumulated depreciation (11.400) (10,800) $ 160,000 $ 98,200 Total Liabilities and Shareholders' Equity $ 20,000 $ 10,000 Accounts payable 100,000 72.000 Common shares 40,000 16,200 Retained earnings $ 160,000 $ 98,200 Total 72,00 G Google Bookshelf Online Retained earnings 40,000 16,200 Total $ 160,000 $ 98,200 Net income of $36,500 was reported and dividends of $12,700 were declared and paid in 2020. New equipment was purchased, and equipment with a carrying value of $4,700 (cost of $11,700 and accumulated depreciation of $7,000) was sold for $8,000. (a) Calculate the current ratio and debt the total assets ratio as at December 31, 2019 and 2020. Calculate the free cash flow for December 31, 2020. (Round answers to 2 decimal places, eg. 52.75.) 2020 2019 Current Ratio % Debt to total assets ratio Free cash flow, December 31, 2020 $ e Textbook and Media
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