5 Required: Using the financial statements provided below calculate the following ratios for Mega Product Solutions. 1) Earnings per share for 2021 2) Leverage ratio for 2021 3) Accounts payable turnover for 2021 4) Days payable outstanding for 2021 5) Times interest earned ratio for 2021 3 Merchandise Sales Cost of Goods Sold Gross Profit Operating Expenses Advertising Interest Mega Product Solutions Income Statement For The Year Ending December 31, 2021 $ 432,300 S S S S S 204,500 227,800 1,650 3,650 Office $ 1,650 Rent Salaries 55 $ 3,600 $ 39,750 Utilities $ 18,900 Total Expenses S 69,200 Net Income $ 158,600 Mega Product Solutions Balance Sheet December 31, 2021 Current Assets: 2021 2020 Cash Accounts Receivable - Net of AFDA 55 $ 41,180 $ 17,350 $ 34,620 $ 8,790 Inventory $ 11,950 $ 18,930 Total Current Assets: S 87,750 $ 45,070 Capital Assets - Net of A/A $ 66,750 $ 53,360 Long-term Investments $ 120,000 $ 19,500 $ 274,500 $ 117,930 Total Assets Liabilities Current Liabilties Accounts payable $ 11,570 $ 9,950 Salary payable $ 3,900 $ 2,750 Uneamed revenues $ 1,200 $ 2,400 Current portion of long-term debt $ 3,600 $ 3,600 Total current liabilities $ 20,270 $ 18,700 Long-term Debt $ 28,800 $ 32,400 Total liabilities $ 49,070 $ 51,100 Total current liabilities $ 20,270 $ 18,700 Long-term Debt Total liabilities $ 28,800 $ 32,400 $ 49,070 $ 51,100 Shareholders Equity Common shares (1,000 shares @ $1 each) $ 1,000 $ 1,000 Retained earnings $ 224,430 $ 65,830 Total Liabilities and Shareholders Equity $ 274,500 $ 117,930