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WileyPLUS X + X -> C a edugen.wileyplus.com/edugen/Iti/main.uni h G A Update WileyPLUS E4 Backup: Kieso, Intermediate Accounting, 12CE Help | System Announcements PRINTER VERSION 1 BACK NEXT The comparative statement of financial position of Sheffield Corporation as at December 31, 2020, follows: SHEFFIELD CORPORATION Statement of Financial Position December 31 December 31 Assets 2020 2019 Cash 54,000 $ -1,600 Accounts receivable 90,000 88,900 Equipment 27,200 21,200 Less: Accumulated depreciation (11,200) (10,600) Total $160,000 $ 97,900 Liabilities and Shareholders' Equity Accounts payable $ 20,000 $ 10,000 Common shares 100,000 72,200 Retained earnings 40,000 15,700 Total $160,000 $ 97,900 Net income of $37,200 was reported and dividends of $12,900 were declared and paid in 2020. New equipment was purchased, and equipment with a carrying value of $5,100 (cost of $11,700 and accumulated depreciation of $6,600) was sold for $7,500. (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.) 2020 2019 Current Ratio :1 :1 Debt to total assets ratio oo Free cash flow. December 31. 2020 $ Type here to search W ENG 2:50 PM US 2021-02-04