Wildhorse Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2019 and 2020 follow. Wildhorse Medical Comparative Balance Sheet As of December 31 2020 2019 Assets Current assets Cash $367,000 $ 417,550 1,026,000 776,450 Accounts receivable, net Inventory Other current assets 717,000 681,000 381,350 247,100 Total current assets 2,491,350 2,122,100 Property, plant, & equipment, net 8,767,005 8,439,995 Total assets $ 11,258,355 $ 10,562,095 $ 3.198,000 $ 2,846,100 Liabilities and Stockholders' Equity Current liabilities Long-term debt Total liabilities 3,702,650 3,892,600 6,900,650 6,738,700 58,950 58,950 104,700 103,850 Preferred stock. $5 par value Common stock $0.25 par value Retained earnings Total stockholders' equity 4,194,055 3,660,595 4,357,705 3,823,395 Total liabilities and stockholders' equity $11,258,355 $ 10,562,095 Wildhorse Medical Comparative Income Statement and Statement of Retained Earnings For the Year 2020 2019 $ 10,177,200 $ 9,613,950 Sales revenue (all on account) Cost of goods sold 5.613,250 5,298,800 Gross profit 4,563,950 4,315,150 Operating expenses 2,840,250 2,634,200 Net operating income 1.723,700 1,680,950 300,400 308,600 Interest expense Net income before taxes Income taxes (30%) 1,423,300 1,372,350 426,990 411,705 $ 996,310 $ 960.645 29,500 29,450 Net income Dividends paid Preferred dividends Common dividends Total dividends paid Net income retained 433,350 413.000 462,850 442,450 533,460 518,195 Retained earnings, beginning of year 3,660,595 3,142,400 Retained earnings, end of year $ 4,194,055 $3,660,595 (a-d) Calculate the following liquidity ratios for 2020. (If working capital is negative then enter with a negative sign preceding the number or parentheses, eg. -15,000 or (15,000). Round all answers except working capital to 2 decimal places, eg. 2.55.) $ $ a. Working capital b. Current ratio c Acid-test ratio d Accounts receivable turnover times eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (e-f) Calculate the following liquidity ratios for 2020. (Round average collection period to decimal place, eg. 25 and inventory turnover ratio to 2 decimal places, eg. 5.12. Use 365 days for calculation.) days a. Average collection period times b. Inventory turnover e Textbook and Media Save for Later Attempts:0 of 3 used Submit Answer Calculate average days to sell inventory for 2020. (Round answer to decimal places, eg, 25. Use 365 days for calculation.) Average days to sell inventory days eTextbook and Media Save for Later Attempts: 0 of 3 used Submit