Balance Sheet ASSETS Cash $ 97,000 Accounts receivable 39,000 Inventory 45,000 11,000 Prepaid expenses Total current assets $ 192,000 Gross plant and equipment 398,000 (66,000) Accumulated depreciation $ 524,000 Total assets LIABILITIES AND OWNERS' EQUITY Accounts payable $ 88,000 65,000 Accrued liabilities Total current liabilities $ 153,000 Long-term debt 129,000 Common stock 206,000 36,000 Retained earnings $ 524,000 Total liabilities and equity Income Statement Sales* $ 220,000 (82,000) Cost of goods sold Gross profit $ 138,000 Selling, general, and administrative expenses (28,000) (21,000) Depreciation expenses Income Statement Sales* $ 220,000 (82,000) Cost of goods sold Gross profit $ Selling, general, and administrative expenses 138,000 (28,000) (21,000) Depreciation expenses Operating profits $ 89,000 (7,000) Interest expense Earnings before taxes $ 82,000 (17,220) Taxes $ 64,780 Net income * 12% of sales are cash sales. to calculate the (Computing ratios) Use the information from the balance sheet and income statement in the popup window, following ratios: a. Current ratio b. Acid-test ratio c. Times interest earned d. Inventory turnover e. Total asset turnover f. Operating profit margin g. Days in receivables h. Operating return on assets i. Debt ratio j. Return on equity