3. Given a company Income statement and balance shoot for 2019: ASSETS $ $ $ $ LIABILITIES & STOCKHOLDER EQUITY Accounts Payable $ 850,000 Notes Payable $ 1,000,000 Cash Accounts Receivable Inventory Total Current Assets 450,000 1,800,000 1,500,000 3,750,000 Total Current Labilities $ 1,850,000 Net Fixed Assets $ 12,250,000 L-T Debt Total Liabilities Stockholder Equity $ $ $ 4,150,000 6,000,000 10,000,000 Total Assets $ 16,000,000 Total Liabilities & SE $ 16,000,000 INDUSTRY AVERAGE 3.85 COMPANY RATIOS RATIO Current Ratio 1.62 Income Statement Sales $ 24,000,000 COGS $ 16,000,000 Other Expenses $ 2,900,000 Depreciation $ 700,000 EBIT $ 4,400,000 Interest $ 400,000 Taxable income $ 4,000,000 Taxes (40%) $ 1,600,000 Net Income $ 2,400,000 Dividends $ 246,000 Retained Earnings S 1,836,500 0.60 Total Asset Turnover Total Debt Ratio Profit Margin Return on Equity 14.03% 56.82% a Calculate the following ratios for 2019, Enter your values in the table above. (1) current ratio (2) total asset turnover (3) total debt ratio (4) profit margin (5) return on equity