VAUGHN CORPORATION BALANCE SHEETS Dec 31, 2020 Jan. 1. 2020 Inc/Dec Assets Cash $21.350 $14.570 $6,780 Inc Accounts receivable 107.350 89,570 17,780 Inc Equipment Luss. Accumulated Depreciation Equipment 40.350 23,570 16,780 Inc (17.000) (11.000) 6,000 Inc Total $152.050 $116,710 $21.350 $16,570 4,780 Inc Liabilities and Stockholders Equity Accounts payable Common stock Retained earnings Total 101350 81,570 19,780 Inc 29,350 18,570 10.780 Inc $152050 $116,710 Net Income of $45,350 was reported and dividends of $34,570 were paid in 2020. New equipment was purchased and none was sold. Your answer is partially correct Compute the current ratio (current assets + current liabilities) as of January 1, 2020, and December 31, 2020. (Round ratios to 1 decimal place, e.3.4.5.) 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 6.3. -15,000 or in parenthesis es. (15,000).) Free Cash Flow e Textbook and Media Save for Later Attempts: 9 of 12 used Submit Answer (c)