4 5 - 1 . 5 The financial statements of Hainz Company appear below! HAINZ COMPANY-Comparative Balance Sheet December 31, 2020 and 2019 Assets Cash 2020 2019 Short-term investments $20.000 $ 40,000 Accounts receivable (net) 20,000 60,000 Inventory 40,000 30,000 Property, plant and equipment (niet). 60,000 70.000 Total assets 260.000 300,000 $400.000 $500,000 Liabilities and stockholders' equity Accounts payable Short-term notes payable $ 20.000 $ 30,000 Bonds payable. 40,000 90.000 Common stock 80,000 160,000 Retained earnings 150,000 150,000 Total liabilities and stockholders' equity- 110.000 70,000 $400.000 $500,000 HAINZ COMPANY-Income Statement For the Year Ended December 31, 2020 Net sales Cost of goods sold $400.000 Gross profit. www .000 Expenses 150.000 Operating expenses Interest expense $42.000 18 000 Total expenses Income before income taxes 0.000 90,000 Income tax expense. Net income 27,000 $.63.000 Instructions Using the financial statements and additional information compute the following ratios for Hainz Company 2020 and for selected 2019. Show all computations 1. Current ratio: 2020 wand 2019 2. Return on common stockholders' equity: 2020 3. Acid-test ratio: 2020 and 2019 4. Accounts receivable turnover. 2020 5. Times interest eamed 2020 6. Profit margin: 2020 and 2019 7. Inventory turnover: 2020__ 8. Return on assets: 2020 oste 99. ewi