Alpha company has the following comparative balance sheet data: Alpha Company Balance Sheets December 31 2020 2019 Cash 20,000 40,000 Accounts receivable (net) 70,000 50,000 Inventory 60,000 65,000 Plant assets (Net) 2,00,000 1,65,000 3,50,000 3,20,000 Accounts payable 53,000 62,000 Mortgage payable (6%) 102,000 98,000 Common stock, $10 per 1,45,000 1,20,000 Retained earnings 50,000 40,000 3,50,000 3,20,000 Additional information for 2020: 1. Net income was $45,000 2. Sales on account were $450,000. Sales returns and allowances were 350,000 3. Cost of goods sold was $218,000. Requirements: Compute the following ratios at December 31, 2020 (a) Current Ratio (b) Inventory Turnover Ratio (c) Debt to Equity Ratio (d) Profit Margin (e) Return on Assets. ACTIVITIES 1. Ziscosteel, a manufacturer of recyclable plastic bags, had the following inventory balances at the beginning of 2012 INVENTORY CLASSIFICATION Raw Material Work In Progress Finished Goods 1-Jan- 18 31-Dec- 18 40,000.00 50,000.00 180,000.00 139,000.00 150,000.00 165,000.00 During the year, the company purchased $250 000 of raw material and spent $400 000 on direct labor. The manufacturing overhead costs were as follows: indirect material 50,000.00 Indirect labor 25,000.00 Depreciation on plant equipment 13,000.00 Utilities 25,230.00 Other 30,000.00 MBF 1213- Managerial Accounting Sales revenue for the year was $1 105 000.00. Selling and administrative expenses for the year amounted to 1100 00.00. The firm's tax rate is 40%. a) Prepare a schedule for Prepare a schedule of cost of goods manufactured b) Establish the cost of goods sold c) Construct an income statement