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Would you please explain how to do the math for this problem? Windsor Corporation was formed 5 years ago through a public subscription of common

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Would you please explain how to do the math for this problem?

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Windsor Corporation was formed 5 years ago through a public subscription of common stock. Daniel Brown, who owns 15% of the common stock, was one of the organizers of Windsor and is its current president. The company has been successful, but it currently is experiencing a shortage of funds. On June 10, 2021, Daniel Brown approached the Topeka National Bank, asking for a 24-month extension on two $34,750 notes, which are due on June 30, 2021, and September 30, 2021. Another note of $5,990 is due on March 31, 2022, but he expects no difficulty in paying this note on its due date. Brown explained that Windsor's cash flow problems are due primarily to the company's desire to finance a $299,300 plant expansion over the next 2 fiscal years through internally generated funds. The commercial loan officer of Topeka National Bank requested the following financial reports for the last 2 fiscal years.The commercial loan officer of Topeka National Bank requested the following financial reports for the last 2 fiscal years. Windsor Corporation Balance Sheet March 31 Assets 2021 2020 Cash $18,270 $12,430 Notes receivable 148,780 130,950 Accounts receivable (net) 131,230 125,720 Inventories (at cost) 104,200 49,640 Plant & equipment (net of depreciation) 1,452,000 1,431,290 Total assets $1,854,480 $1,750,030 Liabilities and Owners' Equity Accounts payable $78,690 $91,120 Notes payable 75,490 61,750 Accrued liabilities 6,130 19,930 Common stock (130,000 shares, $10 par) 1,307,580 1,296,530 Retained earnings 386,590 280,700 Total liabilities and stockholders' equity $1,854,480 $1,750,030 Cash dividends were paid at the rate of $1 per share in fiscal year 2020 and $2 per share in fiscal year 2021.Windsor Corporation Income Statement For the Fiscal Years Ended March 31 2021 2020 Sales revenue $3,010,800 $2,721,120 Cost of goods sold= 1,535,270 1,423,060 Gross margin 1,475,530 1,298,060 Operating expenses 856,650 783,860 Income before income taxes 618,880 514,200 Income taxes (40%) 247,552 205,680 Net income $371,328 $308,520 Depreciation charges on the plant and equipment of $100,510 and $101,910 for fiscal years ended March 31, 2020 and 2021, respectively, are included in cost of goods sold.(a) Compute the following items for Windsor Corporation. (Round answers to 2 decimal places, e.g. 2.25 or 2.25%.) 1. Current ratio for fiscal years 2020 and 2021. 2. Acid-test (quick) ratio for fiscal years 2020 and 2021. 3. Inventory turnover for fiscal year 2021. 4. Return on assets for fiscal years 2020 and 2021. (Assume total assets were $1,672,570 at 3/31/19.) 5. Percentage change in sales, cost of goods sold, gross margin, and net income after taxes from fiscal year 2020 to 2021 2020 2021 1. Current ratio :1 :1 2. Acid-test (quick) ratio :1 :1 3. Inventory turnover times 4. Return on assets % 5. Percent Changes Percent Increase Sales revenue Cost of goods sold % Gross margin Net income after taxes Click if you would like to Show Work for this question: Open Show Work

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