1. Cipher reported the following financial statements Cipher Corporation's December 31 Balance Sheets Assets 2020 Cash $72,000 Accounts receivable 439,000 Inventories 894,000 Total current assets $1,405,000 Land and building 238,000 Machinery 132,000 Other fixed assets 61,000 Total assets $1,836,000 2019 $65,000 328,000 813,000 $1,206,000 271,000 133,000 57,000 $1,667,000 Liabilities and equity 2020 Accounts payable $432,000 Accrued liabilities 170,000 Total current liabilities $602,000 Long-term debt 404,290 Common stock 575,000 Retained earnings 254,710 Total liabilities and equity $1,836,000 Cipher Corporation's December 31 Income Statements 2020 2019 $409,500 162,000 $571,500 258,898 575,000 261,602 $1,667,000 2019 Sales Cost of goods sold $ 4,240,000 3,680,000 $ 3,635,000 2,980,000 Gross operating profit S 560,000 General admin and selling expenses 236,320 Depreciation 159,000 Miscellaneous 134,000 EBT $ 30,680 Taxes (40%) 12.272 Net income $ 18,408 Per-Share Data 2020 EPS S0.80 Cash dividends $1.10 Market price (average) $12.34 P/E ratio 15.4 Number of shares outstanding 23,000 Questions: A Fill out ratios for 2020 and 2019. (16 points) $ 655,000 213,550 154,500 127,000 S 159,950 63,980 $ 95,970 2019 $4.17 $0.95 $23.57 5.65 23,000 Industry Avg 2.7 7.0 32 2.6 Ratio Analysis 2020 2019 Liquidity Current ratio Asset Management Inventory turnover Days sales outstanding Total assets turnover Profitability Return on assets Return on equity Profit margin on sales Debt Management Debt ratio * Industry average ratios have been constant for the past 4 years. Based on year-end balance sheet figures. Calculation is based on a 365-day 9.1% 18.2% 3.5% 50.0%