Financial statements for the Genatron Manufacturing Corporation for the years 2020 and 2019 are shown....

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Finance

Financial statements for the Genatron Manufacturing Corporation for the years 2020 and 2019 are shown.

Genatron Manufacturing Corporation Balance Sheet
2020 2019
ASSETS

Cash

$41,435

$51,163

Accts. receivable

260,271

200,259

Inventory

504,193

450,218

Total current assets

805,899

701,640

Fixed assets, net

400,000

300,000

Total assets

$1,205,899

$1,001,640

LIABILITIES AND EQUITY

Accts. payable

$170,354

$132,701

Bank loan

90,314

90,314

Accruals

70,000

50,000

Total current liabilities

330,668

273,015

Long-term debt, 12%

386,029

292,478

Common stock, $10 par

300,000

300,000

Capital surplus

43,113

43,113

Retained earnings

146,089

93,034

Total liabilities & equity

$1,205,899

$1,001,640

Genatron Manufacturing Corporation Income Statement
2020 2019
Net sales $1,535,390 $1,335,390
Cost of goods sold 921,234 801,234
Gross profit 614,156 534,156
Expenses:
General and administrative 150,000 150,000
Marketing 150,000 130,000
Depreciation 51,014 42,794
Interest 56,884 44,115
Earnings before taxes 206,258 167,247
Income taxes 75,189 60,901
Net income $131,069 $106,346

Calculate Genatrons dollar amount of net working capital in each year.

2020 2019
Net working capital $ $

Calculate the current ratio and the acid-test ratio in each year. (Round answers to 2 decimal places, e.g. 52.75.)

2020 2019
Current ratio
Acid-test ratio

Calculate the average collection period and the inventory-turnover ratio in each year. (Use 365 days for calculation. Round Average collection period to 1 decimal place, e.g. 527.5 and other answers to 2 decimal places, e.g. 52.75.)

2020 2019
Average collection period days days
Inventory turnover ratio

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