Wahlberg Company Income Statement For the Years Ended December 31
		2020			2019
Net sales		$1,818,700			$1,749,800
Cost of goods sold		1,007,700			987,000
Gross profit		811,000			762,800
Selling and administrative expenses		518,400			480,200
Income from operations		292,600			282,600
Other expenses and losses
Interest expense		17,600			14,300
Income before income taxes		275,000			268,300
Income tax expense		80,180			77,300
Net income		$ 194,820			$ 191,000

Wahlberg Company Balance Sheets December 31
Assets		2020			2019
Current assets
Cash		$60,200			$64,200
Debt investments (short-term)		69,600			49,900
Accounts receivable		117,400			101,300
Inventory		123,800			114,800
Total current assets		371,000			330,200
Plant assets (net)		598,400			516,800
Total assets		$969,400			$847,000
Liabilities and Stockholders Equity
Current liabilities
Accounts payable		$160,800			$145,500
Income taxes payable		42,300			42,200
Total current liabilities		203,100			187,700
Bonds payable		220,000			200,000
Total liabilities		423,100			387,700
Stockholders equity
Common stock ($5 par)		277,700			295,300
Retained earnings		268,600			164,000
Total stockholders equity		546,300			459,300
Total liabilities and stockholders equity		$969,400			$847,000

All sales were on account. Net cash provided by operating activities for 2020 was $238,000. Capital expenditures were $134,000, and cash dividends were $90,220. COMPUTE EARNINGS PER SHARE:

COMPUTE FREE CASH FLOW: