Live Ltd. reported the following comparative statement of financial position data:

Additional information for 2012:
1. Profit was $25,000.
2. Gross sales on account were $420,000. Sales returns and allowances on account amounted to $20,000.
3. Cost of goods sold was $198,000.
4. The allowance for doubtful accounts was $8,000 at the end of 2011, and $8,500 at the end of 2012.
5. Net cash provided by operating activities was $5,000.
Instructions
(a) Calculate the following ratios for 2012:
1. Current ratio
2. Receivables turnover
3. Average collection period
4. Inventory turnover
5. Days in inventory
6. Cash current debt coverage
7. Debt to total assets
8. Cash total debt coverage
9. Return on common shareholders' equity
10. Return on assets 

(b) Indicate whether each of the above ratios is a measure of liquidity (L), solvency (S), or profitability (P)

LIVE LTD. Statement of Financial Position December 31 2012 2011 Assets Cash Accounts receivable (net) Merchandise inventory Property, plant, and equipment (net) Total assets $ 25,000 70,000 70,000 180,000 S345,000 $ 30,000 60,000 65,000 165,000 S320,000 Liabilities and Shareholders'Equity Accounts payable Mortgage payable-current portion Mortgage payable-non-current portion Common shares Retained earnings Total liabilities and shareholders' equity $ 70,000 5,000 115,000 90,000 65,000 $345,000 $ 75,000 5,000 120,000 80,000 40,000 320,000