Wildhorse Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2015 and 2016 follow. 2015 Wildhorse Medical Comparative Balance Sheet As of December 31 2016 Assets Current assets Cash $381,000 Accounts receivable, net 1,003,000 Inventory 741,000 Other current assets 381,350 Total current assets 2,506,350 Property, plant, & equipment, net 8,750,700 Total assets $11,257,050 $417,400 776,400 681,050 247,050 2,121,900 8,439,930 $10,561,830 Liabilities and Stockholders' Equity Current liabilities Long-term debt Total liabilities Preferred stock, $5 par value Common stock, $0.25 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $3,197,000 3,702,600 6,899,600 58,950 104,700 4,193,800 4,357,450 $11,257,050 $2,846,050 3,892,600 6,738,650 58,900 103,800 3,660,480 3,823,180 $10,561,830 Wildhorse Medical Comparative Income Statement and Statement of Retained Earnings For the Year 2016 2015 Sales revenue (all on account) $10,177,200 $9,613,900 Cost of goods sold 5,613,500 5,298,700 Gross profit 4,563,700 4,315,200 Operating expenses 2,840,250 2,634,100 Net operating income 1,723,450 1,681,100 Interest expense 300,350 308,700 Net income before taxes 1,423,100 1,372,400 426,930 $996,170 411,720 $960,680 Income taxes (30%) Net Income Dividends paid Preferred dividends Common dividends Total dividends paid Net Income retained Retained earnings, beginning of year Retained earnings, end of year 29,450 433,400 462,850 533,320 3,660,480 $4,193,800 29,450 413,100 442,550 518,130 3,142,350 $3,660,480 XX Your answer is incorrect. Try again. Calculate the following liquidity ratios for 2016. (If working capital is negative then enter with a negative sign preceding the number or parentheses, e.g. -15,000 or (15,000). Round all answers except working capital to 2 decimal places, e.g. 2.55.) a. Working capital b. Current ratio C. Acid-test ratio d. Accounts receivable turnover times LINK TO TEXT LINK TO VIDEO Your answer is partially correct. Try again. Calculate the following liquidity ratios for 2016. (Round average collection period to 0 decimal place, e.g. 25 and inventory turnover ratio to 2 decimal places, e.g. 5.12. Use 365 days for calculation.) a. Average collection period 33 days b. Inventory turnover times Your answer is incorrect. Try again. Calculate average days to sell inventory for 2016. (Round answer to 0 decimal places, e.g. 25. Use 365 days for calculation.) Average days to sell inventory U days