From the income statement and balance sheet of Andrews Company (Figures 22.14 and 22.15), compute the following for 2020:

(a) Current ratio,

(b) Acid test ratio,

(c) Accounts receivable turnover,

(d) Average collection period,

(e) Inventory turnover,

(f) Asset turnover,

(g) Debt to total assets,

(h) Debt to stockholders? equity,

(i) Times interest earned,

(j) Gross profit rate,

(k) Return on sales,

(l) Return on total assets,

(m) Return on stockholders? equity.

Assume all sales are on credit.

Comparative Income Statement for Andrews Co.

Comparative Balance Sheet for Andrews Co.

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ANDREWS COMPANY COMPARATIVE INCOME STATEMENT FOR YEARS ENDED DECEMBER 31, 2020, AND DECEMBER 31, 2019 December 31 2020 2019 Net Credit Sales $ 420 00000 $ 382 0 0000 Cost of Goods Sold 236 0 0 000 217 000 00 Gross Profit from Sales $ 184 00 0 00| $ 165|0 이이00 Operating Expenses: Selling $ 124 4 0000 $ 112 00000 General and Administrative 19 6 00 00 24 4 00 0 Total Operating Expenses Operating Income $ 144 0 00 00 $ 136 4 0 0 00 $ 40이00100| $ 28|6001001 Less Interest Expense 820000 660000 Income Before Taxes $ 31 8 0000 $ 2200000 Income Taxes 954000 880000 Net Income $ 22 26000 $ 13 20000