2 4,800 The balance sheet at December 31, 2023 for Zumba Company follows: Current Assets: Cash and Cash Equivalents Accounts Receivable, net Inventories Prepaid Rente Total Current Assets Land, buildings and equipment, net Investments Total assets 2.200 898 7,900 7,400 sod 15,800 13 Current Liabilities: Accounts Payable Current Portion Long-Term Debt Accrued Salaries Payable Total Current Liabilities Long-Term Debt Total Liabilities 500 2,500 1.000 4,000 8,000 12.000 Stockholders' Equity: Common Stock 2.800 Retained Earnings 1.000 Total Stockholders' Equity 3,800 Total Liabilities and Stockholders' Equity 15,800 Additional information follows: 1. Net income for the year ended December 31, 2023 is 2,020. 2. Cost of goods sold for the year ended December 31, 2023 is 4,400. 3. Inventory on January 1, 2023 is 1,800. 4. Accounts Receivable, net on January 1, 2023 are 4,400. 5. Total assets on January 1, 2023 are 20,000. 6. Net credit sales for the year ended December 31, 2023 are 14,600. 7. Net income before interest and taxes for the year ended December 31, 2023 is 4,800.- 8. Interest expense for the year ended December 31, 2023 is 550.- 9. Total stockholders' equity on January 1, 2023 is 3,500. Write the Formula and Compute the following ratios: 1. Current ratio 2. Quick ratio 3. Accounts receivable tumover 4. Days' inventory outstanding 5. Times interest earned 6. Return on assets 7. Return on equity 1 List and Explain Fundamental and Enhancing Qualitative Characteristics of useful information in accounting