Current Attempt in Progress The comparative statement of financial position of Bridgeport Corporation as at December...

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Current Attempt in Progress The comparative statement of financial position of Bridgeport Corporation as at December 31, 2023, follows: BRIDGEPORT CORPORATION Statement of Financial Position December 31 December 31 Assets Cash 2023 2022 $51,000 $7,200 Accounts receivable 89,600 87,000 Equipment 26,200 21,000 Less: Accumulated depreciation (6,800) (11,100) Total $160,000 $104,100 Liabilities and Shareholders' Equity Liabilities and Shareholders' Equity Accounts payable Common shares Retained earnings Total $20,000 $10,000 100,000 78,100 40,000 16,000 $160,000 $104,100 Net income of $36,500 was reported and dividends of $12,500 were declared and paid in 2023. New equipment was purchased, and equipment with a carrying value of $5,000 (cost of $11,700 and accumulated depreciation of $6,700) was sold for $7,500. (a) Calculate the current ratio and debt to total assets ratio as at December 31, 2022 and 2023. Calculate the free cash flow for December 31, 2023. (Round answers to 2 decimal places, e.g. 52.75. Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) 2023 2022 parenthesis e.g. Current ratio Debt to total assets ratio Free cash flow, December 31, 2023 $ eTextbook and Media 2023 :1 % Jo 2022 :1 % Current Attempt in Progress The comparative statement of financial position of Bridgeport Corporation as at December 31, 2023, follows: BRIDGEPORT CORPORATION Statement of Financial Position December 31 December 31 Assets Cash 2023 2022 $51,000 $7,200 Accounts receivable 89,600 87,000 Equipment 26,200 21,000 Less: Accumulated depreciation (6,800) (11,100) Total $160,000 $104,100 Liabilities and Shareholders' Equity Liabilities and Shareholders' Equity Accounts payable Common shares Retained earnings Total $20,000 $10,000 100,000 78,100 40,000 16,000 $160,000 $104,100 Net income of $36,500 was reported and dividends of $12,500 were declared and paid in 2023. New equipment was purchased, and equipment with a carrying value of $5,000 (cost of $11,700 and accumulated depreciation of $6,700) was sold for $7,500. (a) Calculate the current ratio and debt to total assets ratio as at December 31, 2022 and 2023. Calculate the free cash flow for December 31, 2023. (Round answers to 2 decimal places, e.g. 52.75. Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) 2023 2022 parenthesis e.g. Current ratio Debt to total assets ratio Free cash flow, December 31, 2023 $ eTextbook and Media 2023 :1 % Jo 2022 :1 %