The comparative summary statement of financial position for Grat Ltd. as at December 31 follows 2021 2020 Cash and cash equivalents $ 26,000 $ 90,000 Trade receivables 53,000 62,000 Inventories held for resale 41,000 29,000 Buildings and equipment, net 287,000 240.000 Total $407,000 $421,000 Trade payables Bank loan Interest payable Income taxes payable Contributed capital (common shares) Retained earnings Total $ 16,000 0 4,000 5,000 122,000 260,000 $407.000 $ 27,000 88,000 2,500 7,000 100,000 196,500 $421,000 Income statement information for Gnat Ltd. for 2021 is shown below: Sales Cost of sales Operating expenses Operating income Interest expense Gain on sale of equipment Pre-tax earning Income tax expense Net earnings $ 850,000 580,000 135.000 135,000 5,000 22,000 152,000 64,000 $ 88,000 19 of 40 Cash from operations in 2021 was Select one O a. S115,500 O b. $116,500 O c. 5117,500 Od $114,500 Unsure 20 of 40 Cash used in investing activities in 2021 was Select one: O a $90,000 b. $97,000 O c. $75,000 d. $170,000 Unsure 21 of 40 Cash dividends paid in 2021 were Select one O a $14,500 b. $24,500 c. $4,500 d. $63,500 2201.40 Cash proceeds from the issuance of common shares in 2021 was Select one O a $22.000 O b. $32,000 O c. $12,000 O d. $85,500 Unsure |||||| 23.o540 Interest paid in 2021 was Select one 0 a $5,000 Ob $3,500 O c. $8,500 O d. $1,500 Unsure A 240-40 Income taxes paid in 2021 was Select one a $64,000 O b. 566,000 O c. $62,000 O d. $68,000 25.40 The change in current assets in 2021 was Sekedt one O a Decrease of $61,000 Ob Increase of $2,000 Oc Decrease of 52,000 O d. Increase of $13,000 Unsure IN | 26 of 40 The quick ratio for 2021 is closest to Select one: O a. 32 b. 3.2 c 26 O d. 48 Unsure 27 of 40 The current ratio for 2021 is closest to Select one O a 3.2 O b.4.8 O c. 6.0 O d. 5.4 28 ot of 40 The trade rexeivables average collection period (in days) for 2021 is closest to Select one O a 31 Ob 25 O c 23 d. 28 Unsure Call 29. of 40 The inventory turnover (number of times) for 2021 is closest to Select one: a. 24 O b. 14 c. 17 O d. 8 Unsure 30 of 40 The fixed asset turnover ratio (number of times) for 2021 is closest to Select one: a 3 Ob.4 Oc.2 O d. Less than 1