2019 Balance Sheet: Cash Receivables $ 10,000 70,000 Inventories Accounts payable $ 45,000 Other current liabilities 28.000 Total CL $ 73,000 Long-term debt 87,000 Common equity (20,000 230,000 shares) Total liabilities and equity $390,000 180.000 $260,000 130.000 Total CA Net fixed assets Total assets $390,000 2019 Income Statement Information: Sales $280,000 CGS 168,000 EBIT 50,000 Interest 13,000 Net income 20,000 a. Calculate the ratios listed below for 2019. Show your calculations. b. Explain whether the company is more or less liquid, selling inventory more or less quickly, more or less able to make interest payments, and more or less able to generate profits than in the previous year and than its competitors. In other words complete both a time series and industry comparison ratio analysis. Ratio Information 2018 2019 Industry Avg Calculations Liquidity: Current Ratio 3.2 3.0 Activity: Inventory Turnover 2.0 5.62 Debt: 5.3 7.5 Times Interest Earned Profitability: Net Profit Margin 6.5% 10.62% Earnings Per Share $1.53