Question 6 The comparative statements of Wildhorse Co. are presented here. WILDHORSE CO. Income Statements For the Years Ended December 31 2019 Net sales $1,891,740 Cost of goods sold 1,059,740 Gross profit 832,000 Selling and administrative expenses 501,200 Income from operations 330,800 Other expenses and losses Interest expense 23,400 Income before income taxes 307,400 Income tax expense 93,400 Net income $214,000 2018 $1,751,700 1,007,200 744,500 480,200 264,300 21,400 242,900 74,400 $168,500 2019 2018 $60,100 74,000 119,000 127,400 380,500 659,000 $1,039,500 $64,200 50,000 104,000 116,900 335,100 530,300 $865,400 WILDHORSE CO. Balance Sheets December 31 Assets Current assets Cash Debt investments (short-term) Accounts receivable Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock ($5 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $161,200 44,900 206,100 230,000 436,100 $146,600 43,400 190,000 210,000 400,000 290,000 313,400 300,000 165,400 465,400 $865,400 603,400 $1,039,500 All sales were on account. Net cash provided by operating activities for 2019 was $233,000. Capital expenditures were $135,000, and cash dividends were $66,000. Compute the following ratios for 2019. (Round free cash flow to 0 decimal places, e.g. 5,275 and all other answers to 2 decimal places, e.g. 1.83 or 1.83%. Use 365 days for calculation.) (a) Earnings per share 3.69 $ (b) Return on common stockholders' equity 40.04 % (c) Return on assets 22.47 % (d) Current ratio 1.85 :1 (e) Accounts receivable turnover 16.32 times (f) Average collection period 22.37 days (g) Inventory turnover times (h) Days in inventory days (i) Times interest earned times (j) Asset turnover times (k) Debt to assets ratio % (1) Free cash flow $