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View Policies Current Attempt in Progress The financial statements of Kingbird Company appear below: KINGBIRD COMPANY Comparative Balance Sheet December 31, Assets 2020 2019 Cash $20,000 $40,000 Short-term investments 20.000 60.000 Accounts receivable (net) 40,000 30.000 Inventory 60,000 70,000 Property, plant and equipment (net) 260.000 300.000 Total assets $400,000 $500,000 Liabilities and stockholders equity Accounts payable $17.200 $30.000 Short-term notes payable 40,000 90.000 Bonds payable 80,000 160.000 Common stock 150,000 150,000 Retained earnings 112,800 70.000 Total liabilities and stockholders equity $400,000 $500,000KINGBIRD COMPANY Income Statement For the Year Ended December 31, 2020 Net sales $400,000 Cost of goods sold 248.000 Gross profit 152,000 Expenses Operating expenses $40,000 Interest expense 18.000 Total expenses 58.000 Income before income taxes 94 000 Income tax expense 28.200 Net income 565.800 Additional information: Cash dividends of $23,000 were declared and paid in 2020. b. Weighted average number of shares of common stock outstanding during 2020 was 32,900 shares. Market value of common stock on December 31. 2020, was $21 per share.Using the financial statements and additional information, compute the following ratios for Kingbird Company for 2020. (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 52.7!) 1. Current ratio :1 2. Return on common stockholders' equity % Price-earnings ratio times 4. Accounts receivable turnover times 5. Times interest earned times 6. Profit margin 7. Days in inventory days 8. Payout ratio 9. Return on assets Save for Later Attempts: 0 of 1 used Submit