1. Compute the following ratios for both years. Current ratio T 2. Quick ratio 3. Inventory turnover in days 4. Average Collection Period Income Statement Data Net Sales Cost of Goods Sold Gross Profit Operating Expense Operating Income Other Expense (interest) Earnings Before Income Tax Income Taxes Net Income Dividends Paid Balance Sheet Data Assets Cash Receivables (net) Inventory Buildings, and Equipment (net) Intangible Assets Total Assets 2021 $1,500,000 934,000 $ 566,000 376,000 $ 190,000 15,000 $ 175,000 66,000 $ 109,000 48,000 2021 $ 30,000 130,000 170,000 650,000 20,000 $1,000,000 2020 $1,200,000 741,000 $ 459,000 277,000 $ 182,000 12,000 $ 170,000 71,000 $ 99,000 42,000 2020 $ 10,000 90,000 113,000 547,000 20,000 $780,000 Liabilities and Stockholders' Equity Trade Notes and Accounts Payable Miscellaneous Current Liabilities 5% Bonds Payable Common Stock, $10 Par Additional Paid-In Capital Retained Earnings Total Liabilities and Stockholders' Equity Note: Market price of stock end-of-each year: $81 2021 $ 100,000 50,000 300,000 100,000 51,000 399,000 $1,000,000 $68 2020 $ 40,000 11,000 240,000 100,000 51,000 338,000 $780,000