(b) Here below is a detailed Balance sheet and income statement for Breakthrough Enterprises Ltd: Balance Sheet (000) Cash $500 Accounts receivable 1,500 8,000,00014 = 2,000,000 Inventories Current assets Net fixed assets Total Assets 1,000 3,000 5,000 8,000 Accounts payable Bank note Total current liabilities 1,300 300 1,600 long-term debt 4,400 300 1,700 Common stock Retained earnings Total liabilities and owners' equity $8,000 Income Statement (000) Net sales Cost of goods sold Gross profit Operating expenses Net operating income Interest expense Earnings before taxes $9,500 (2,400) 7,100 (2,900 4,200 (600) 3,600 Income tax (34%) Net income (1,224) $2,376 Required: Compute the following ratios: 1. Acid test ratio 2. Debt ratio 3. Total asset turnover 4. Operating profit margin 5. Times interest earned 6. Inventory turnover