[6 MARKS] Financial statements for Martinsville Company appear below: Martinsville Company Statement of Financial Position December 31, Year 2 and Year 1 (dollars in thousands) Year 2 Year 1 $210 $1901 $160 $190 $30 $590 $150 $180 $30 $550 $1,500 $2,090 $1,470 $2,020 Current Assets: Cash and Marketable Securities Accounts Receivable, Net Inventory Prepaid Expenses Total Current Assets Noncurrent Assets: Plant & Equipment, Net Total Assets Current Liabilities: Accounts Payable Accrued Liabilities Notes Payable, Short Term Total Current Liabilities Noncurrent Liabilities: Bonds Payable Total Liabilities Shareholders' Equity: Preferred Shares, $5 Par, 15% Dividend Common Shares, $5 Par Additional Paid-In Capital - Common Shares Retained Earnings Total Shareholders' Equity Total Liabilities & Shareholders' Equity $170 $60 $80 $310 $1901 $60 $120 $370 $460 $770 $500 $870 $100 $100 160 $110 $160 $110 $950 $1,320 $2,090 $780 $1,150 $2,020 Sales (All on Account) Costs of Goods Sold Gross Margin Operating Expenses Net Operating Income Interest Expense Net Income before Taxes Income Taxes (30%) Net Income Martinsville Company Income Statement For the Year Ended December 31, Year 2 (dollars in thousands) $1,800 $1,260 $540 $210 $330 $50 $280 $84 $196 Required: PLEASE SHOW ALL OF YOUR CALCULATIONS FOR FULL MARKS. Calculate the following for Year 2: a) Current ratio. b) Acid-test (quick) ratio. c) Average collection period (age of receivables). d) Inventory turnover. e) Times interest earned. f) Debt-to-equity ratio