The comparative statement of financial position of Sarasota Corporation as at December 31, SARASOTA CORPORATION Statement of Financial Position December 31 December 31 100,000 12.50 2020, follows: Assets Cash Accounts receivable Equipment Less: Accumulated depreciation Total Liabilities and Shareholders' Equity Accounts payable Common shares Retained earnings Total 2020 2019 50,000 $ 10,200 90,200 26,500 (6,700) $160,000 $ 20,000 40,000 $160,000 87,500 21,100 (11,800) $107,000 $ 10,000 80,100 16,900 $107,000 Net income of $36,600 was reported and dividends of $13,500 were declared and paid in 2020. New equipment was purchased, and equipment with a carrying value of $4,100 (cost of $11,600 and accumulated depreciation of $7,500) was sold for $8,400. (a) Calculate the current ratio and debt to total assets ratio as at December 31, 2019 and 2020. Calculate the free cash flow for December 31, 2020. (Round answers to 2 decimal places, e.g. 52.75.) Current Ratio Debt to total assets ratio Free cash flow, December 31, 2020 2020 $ :1 7.01 2019 :1 9.77