1. Michigan Corp. has prepared the following financial statements: Michigan Corp Michigan Corp Income Statement Balance Sheet For the Year Ended Dec. 31 2019 As of Dec. 312819 2019 Assets 2019 2018 Sales 3,074,000 2.567.000 Cash 431.000 339,000 Cost of Goods Sold 2.088.000 1.711.000 Accounts Receivable 503.000 365,000 986,00 856,000 Inventories 289.000 300.000 Selling and G&A Expenses 294.000 295.000 Total Current Assets 2.22MOM4,000 Fixed Expenses 35.000 35.000 Gross Fine A Depreciation Expense 239,000 223.000 Accumulated Depreciation 2.295.000 2.056.000 EBIT 418.000 303,000 Net Fine Arts 2374.62 266,00 Interest Expense 93.000 91,600 Total Arts 3,597,100 3.270.000 Earnings Before Tess 325,00 212.000 abilities and Owners' Equity 94.DOC 64,000 Accounts Payable 32.000 270,000 Nero 231.009 148,000 Short-term Notes Payable 79.000 99.000 Accrued Expenses 159.000 114.000 Total Current Liais 620,000 483,000 Long-term che 1.023.006967.000 1.643.00 2.450.000 Common Stock 819.000 SO,000 Retained Earnings 1.135.1012.000 Total Shareholder's Equity 195.08.200.000 Tutal Liabilities and Owensw'Equity 2,597,000 3.270,000 Calculate all of the ratios (given below) for Michigan Corp. for the year 2019 Ratio Total Debt Ratio Times Interest Earned Ratio Current Ratio Quick Ratio Inventory Turnover Ratio Receivables Turnover Ratio Day's sales in receivables Total Asset Turnover Profit Margin Return on Total Assets Return on Common Equity