Question 4 Your answer is partially correct. Try again. The comparative statements of Wahlberg Company are presented here. Wahlberg Company Income Statement For the Years Ended December 31 2020 2019 Net sales $1,811,500 1,013,400 Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses Interest expense Income before income taxes Income tax expense 798,100 515,200 282,900 $1,751,600 985,000 766,600 477,800 288,800 18,600 264,300 83,043 $ 181,257 14,300 274,500 77,600 $ 196,900 Net income Wahlberg Company Balance Sheets December 31 Assets 2020 2019 $60,600 68,800 116,500 122,500 368,400 603,900 $972,300 $64,900 49,100 101,900 115,000 330,900 521,600 $852,500 Current assets Cash Debt investments (short-term) Accounts receivable Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabaities Bonds payable Total liabilities Stockholders' equity Common stock ($5 par) Retained earnings Total stockholders' equity $161,000 42,000 203,000 220,000 423,000 $144,900 42,100 187,000 200,000 387,000 283,700 265,600 549,300 301,000 164,500 465,500 Return to Blackboard Weygandt, Accounting Principles, 13e Help System Announcements CALCULATOR Compute the following ratios for 2020. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, ... 1.65 or 1.85:1, and all other answers to 1 decimal pa 6.9. 6.8 or 6.8%. Use 365 days for calculation.) RACE (a) Earnings per share 3.1 (b) Return on common stockholders' equity 35.7% Return on assets 19.9 (d) Current ratio 1.81:1 Accounts receivable turnover 16.6 mes (0) Average collection period 22 days (9) Inventory turnover 8.53 times (h) Days in inventory 42.79 days (1) Times interest earned 15.21 times 1.99 times Asset turnover (k) 0.44 Debt to assets ratio (1) Free cash flow VIDEO SIMILAR PROBLEM LINK TO TOKY sas re are SENE ANIME Question Attempts: 2 of 4 used