Weygandt, Accounting Principles, 13e & Practice Assignment Gradebook ORION Downloadable eTextbook Assignment RCES Questions The comparative statements of Wahlberg Company are presented here. 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 dy Wahlberg Company Balance Sheets December 31 Assets 2020 2019 Current assets Cash Debt investments (short-term) Accounts receivable $60,200 69,600 $64,200 49,900 101,300 117,400 Ignment 2019 $64,200 49,900 101,300 114,800 330,200 516,800 $847,000 Wahlberg Company Balance Sheets December 31 Assets 2020 Current assets Cash $60,200 Debt investments (short-term) 69,600 Accounts receivable 117,400 Inventory 123,800 Total current assets 371,000 Plant assets (net) 598,400 Total assets $969,400 Liabilities and Stockholders' Equity Current liabilities Accounts payable $160,800 Income taxes payable 42,300 Total current liabilities 203,100 Bonds payable 220,000 Total liabilities 423,100 Stockholders' equity Common stock ($5 par) 277,700 Retained earnings 268,600 Total stockholders' equity 546,300 Total liabilities and stockholders equity $969.400 $145,500 42,200 187,700 200,000 387,700 295,300 164,000 459,300 $847,000 Cy Policy Total abilities and stockholders equity 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 the following ratios for 2020. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, e.g. 1.65 or 1.65:1, and all other ans e.g. 6.8 or 6.8%. Use 365 days for calculation.) (a) Earnings per share (b) Return on common stockholders' equity Return on assets % (d) Current ratio :1 (0) Accounts receivable turnover times (1) Average collection period days Inventory turnover times (h) Days in Inventory days (1) Times interest eamed times 0) Asset turnover times (k) Debt to assets ratio 96 (1) Free cash flow