The King Mattress Company had the following operating results for 2018-2019. In addition, the company paid dividends in both 2018 and 2019 of $64,800 per year and made capital expenditures in both years of $30,000 per year. The company's stock price in 2018 was $8 and $7 in 2019. The industry average earnings multiple for the mattress industry was 9 in 2019 and the free cash flow and sales multiples were 18 and 1.5, respectively. The company is publicly owned and has 1,200,000 shares of outstanding stock at the end of 2019. Balance Sheet, Dec 31, 2619 2618 Cash $ 356,666 $ 116,666 Accounts Receivable $ 366,666 $ 416,666 Inventory $ 266,666 $ 316,666 Total Current Assets $ 988,666 $ 848,666 Longlived Assets 1,246,666 1,266,666 Total Assets $2, 223,999 $2, 193,999 Current Liabilities $ 216,666 $ 316,666 Longterm Debt 616,666 516,666 Shareholder Equity 1,396,666 1,276,666 Total Debt and Equity $2,228,666 $2,168,666 Income Statement, For year ended Dec 31, Sales Cost of Sales Gross Margin Operating Expenses Operating Income Taxes Net Income 2919 2919 $4,839,999 $4,589,999 4,164,999 4,964,999 666,999 516,999 359,999 499,999 399,999 199,999 123,299 43,299 $ 194,999 $ 64,999 Cash Flow From Operations Net Income Plus Depreciation Expense + Decrease (inc) in AccRec. and Inv. + Increase (dec) in Cur. Liabl. Cash Flow from Operations 2919 $ 184,899 59,999 199,999 (199,999) $ 234,999 Return on equity for 2019 is (rounded): 2919 $ 64,899 59,999 $114,899