21. Financial statement analysis. The condensed financial statements of Marks Company for the years 2017-2018 are presented below Marks Company Comparative Balance Sheets As of December 31, 2017 and 2018 Cash Accounts receivable (net) Inventories Plant and equipment Accumulated depreciation S 630,000 S 180,000 450,000 510,000 1,608,000 540,000 570,000 2,700,000 4.050.000 $2.520,000 s 510,000 S 240,000 60,000 Accounts payable Dividends payable Bonds payable Common stock ($10 par) Retained earnings 600,000 2,280,000 660,000 1,800,000 S4,050,000 $2.520.000 Additional data: Market value of stock at 12/31/18 is $80 per share Marks sold 48,000 shares of common stock at par on July 1, 2018. Marks Company Condensed Income Statement For the Year Ended December 31, 2018 Sales revenue Cost of goods sold Gross profit Administrative and selling expenses Net income S3,600,000 2.475,000 1,125,000 750,000 S 375,000 Instructions Compute the following financial ratios by placing the proper amounts in the parentheses provided for numerators and denominators. a. Current ratio at 12/31/18 b. Acid test ratio at 12/31/18 c. Accounts receivable turnover in 2018 d. Inventory turnover in 2018