WileyPLUS Kieso, Intermediate Accounting, 12CE Volume 1 Help | System Announcements PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Chapter 5 Homework Exercise 5-19 a Brief Exercise 5-5 The comparative statement of financial position of Martinez Corporation as at December 31, 2020, follows: Brief Exercise 5-16 Brief Exercise 5-13 MARTINEZ CORPORATION Brief Exercise 5-20 Statement of Financial Position Brief Exercise 5-22 December 31 December 31 Exercise 5-2 Assets 2020 2019 Exercise 5-4 a Cash $ 54,000 $ -1,800 Exercise 5-10 a Accounts receivable 90,000 88,800 Exercise 5-13 al Equipment 27,300 21,100 * Exercise 5-19 a Less: Accumulated depreciation (11,300) (10,000) Total $160,000 $ 98,100 Review Score Liabilities and Shareholders' Equity Review Results by Study Accounts payable $ 20,000 $ 10,000 objective Common shares 100,000 72,100 Retained earnings 40,000 16,000 Total $ 160,000 $ 98,100 Net income of $36,800 was reported and dividends of $12,800 were declared and paid in 2020. New equipment was purchased, and equipment with a carrying value of $4,800 (cost of $11,800 and accumulated depreciation of $7,000) was sold for $7,800. (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 7.20 :1 8.70 :1 Debt to total assets ratio 12.50 % 10.19 % Free cash flow, December 31, 2020 $ 29800