Balance Sheet Cash Accounts Receivable, Net Inventory Prepaid Expenses Other Current Assets Total Current Assets Property and Equipment, Net Total Assets Current Liabilities Long-Term Liabilities Total Liabilities Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Income from Operations Interest Expense Income before Income Tax Expense Income Tax Expense $ 8,700 3,000 $ 6,200 $ 5,800 3,500 2,800 1,700 3,500 2,100 1,150 1,450 600 400 450 300 14,950 74,000 $ 88,950 15,100 89,000 $ 48,600 11,600 37,000 $ 104,100 $ 12,000 38,500 $ 12,000 $13,000 53,500 17,500 50,500 65,500 30,500 30,000 35,000 15,900 8,450 3,600 38,450 38,600 $ 88,950 $ 104,100 2,200 18,100 $ 48,600 $ 85,000 68,000 $ 61,000 $ 49,000 51,000 38,000 17,000 10,000 11,000 4,500 2,500 7,500 12,500 7,500 3,500 1,300 3,400 1,100 11,200 4,100 2,400 3,550 1,300 1,000 . Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Income from Operations Interest Expense Income before Income Tax Expense Income Tax Expense Net Income Required: $ 85,000 68,000 $ 61,000 $ 49,000 51,000 38,000 17,000 10,000 11,000 4,500 2,500 7,500 12,500 7,500 3,500 1,300 3,400 1,100 11,200 4,100 2,400 3,550 1,00 1,000 $ 7,650 $ 2,800 $ 1,400 1-a. Calculate the net profit margin, gross profit percentage, return on equity, and fixed asset turnover ratio for 2021 an- 1-b. Was NGS more profitable in 2021 or 2020? 2. Calculate the current ratio for 2021 and 2020. 3-a. Calculate the debt-to-assets ratio and times interest earned ratio for 2021 and 2020. 3-b. Was NGS more solvent in 2021 or 2020? 2021 2020 2019 $ 8,700 3,000 $ 6,200 $ 5,800 3,500 2,800 1,700 3,500 2,100 1,150 1,450 600 400 450 300 14,950 15,100 11,600 74,000 89,000 37,000 $ 88,950 $ 104,100 $ 12,000 38,500 $ 12,000 53,500 $ 48,600 $ 13,000 17,500 50,500 30,000 65,500 35,000 30,500 15,900 2,200 18,100 8,450 38,450 $ 88,950 $ 85,000 68,000 17,000 4.500 3,600 38,600 $ 104,100 $ 61,000 51,000 10,000 2.500 $ 48,600 $ 49,000 38,000 11,000 7.500