Balance sheet Cash Accounts receivable (net) Inventory Property & equipment (net) Other assets Total assets Current liabilities Long-term debt (interest rate: 15%) Capital stock ($10 par value) Additional paid-in capital Retained earnings Total liabilities and stockholders' equity $ 413,900 Income statement Sales revenue (1/2 on credit) Cost of goods sold Operating expenses Net income Other data Per share stock price at end of current year Average income tax rate $ 436,500 (237,500) (162,400) Blue Water $ 41,700 41,500 95,500 150,500 84,700 $ 413,900 $ 95,500 69,900 152,900 29,700 65,900 Prime Fish $ 20,300 33,100 44,200 409,400 312,000 $ 819,000 $ 59,500 61,400 519,000 106,700 72,400 $ 819,000 $ 795,000 (400,700) (311,700) $ 36,600 $ 82,600 $ 22.7 45% $ 22 45% Dividends declared and paid in current year $ 33,700 $ 151,500 Both companies are in the fish catching and manufacturing business. Both have been in business approximately 10 years, and each has had steady growth. The management of each has a different viewpoint in many respects. Blue Water is more conservative, and as its president has said, "We avoid what we consider to be undue risk." Neither company is publicly held. Required: 1. Using year-end balances for all ratios, compute the following ratios: