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IvanhoeMedical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2019 and 2020 follow.

Ivanhoe Medical Comparative Balance Sheet As of December 31 Assets Current assets Cash Accounts receivable, net Inventory Other current assets Total current assets Property, plant, & equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities Long-term debt Total liabilities Preferred stock, $5 par value Common stock, $0.25 par value Retained earnings Total stockholders\" equity Total liabilities and stockholders' equity 2020 $359,000 1,014,000 736,000 381,350 2,490,350 8,737,045 $11,227,395 $3,167,000 3,702,600 6,869,600 58,950 104,650 4,194,195 4,357,795 $11,227,395 2019 $417,450 776,400 681,000 247,000 2,121,850 8,439,895 $10,561,745 $2,846,000 3,892,600 6,738,600 58,950 103,850 3,660,345 3,823,145 $10,561,745 Ivanhoe Medical Comparative Income Statement and Statement of Retained Earnings For the Year Sales revenue (all on account) $ Cost of goods sold Gross prot Operating expenses Net operating income Interest expense Net income before taxes Income taxes (30%) Net income Dividends paid Preferred dividends Common dividends Total dividends paid Net income retained Retained earnings, beginning of year Retained earnings, end of year 2020 10,177,200 5,612,550 4,564,650 2,840,250 1,724,400 300,400 1,424,000 427,200 $996,800 29,500 433,450 462,950 533,850 3,660,345 $4,194,195 2019 $9,613,950 5,298,800 4,315,150 2,634,150 1,681,000 308,650 1,372,350 411,705 $960,645 29,500 413,100 442,600 518,045 3,142,300 $3,660,345 (a-d) Calculate the following liquidity ratios for 2020. (lf working capital is negative then enter with a negative sign preceding the number or parentheses, e.g. -15,000 or (15,000). Round all answers except working capital to 2 decimal places, e.g. 2.5 5.) a. Working capital $ b. Current ratio c. Acid-test ratio d. Accounts receivable turnover times eTextbook and Media Save for Later Attempts: 0 Of 3 USEd Submit

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