Balances for selective accounts of Sanborn Corporation at the end of 20X6 were: accounts receivable (net) 206,800; inventory 547,200; total assets 1,465,600; accounts payable 386,600 ; and stockholders' equity 641,200 . Required Perform a comprehensive ratio analysis calculating the ratios mentioned below. Round all answers to one decimal place. 1. Prepare a liquidity analysis by calculating for each year the: current ratio; acid-test ratio; receivable turnover; average collection period; inventory turnover; average inventory on hand period; accounts payable turnover; average accounts payable outstanding period (10%). 2. Prepare a profitability analysis by calculating for each year the net profit margin; asset turnover; return on total assets (using net income after taxes and ignoring interest expenses) and return on equity (10\%). After making the calculations indicate whether each ratio improved or deteriorated from 20X7 to 20X8 (use F for favorable and U for unfavorable and consider change of .1 or less to be neutral) Sanborn Corporation's condensed comparative income statement and balance sheet for 20X8 and 20X7 appears below. Balances for selective accounts of Sanborn Corporation at the end of 20X6 were: accounts receivable (net) 206,800; inventory 547,200; total assets 1,465,600; accounts payable 386,600 ; and stockholders' equity 641,200 . Required Perform a comprehensive ratio analysis calculating the ratios mentioned below. Round all answers to one decimal place. 1. Prepare a liquidity analysis by calculating for each year the: current ratio; acid-test ratio; receivable turnover; average collection period; inventory turnover; average inventory on hand period; accounts payable turnover; average accounts payable outstanding period (10%). 2. Prepare a profitability analysis by calculating for each year the net profit margin; asset turnover; return on total assets (using net income after taxes and ignoring interest expenses) and return on equity (10\%). After making the calculations indicate whether each ratio improved or deteriorated from 20X7 to 20X8 (use F for favorable and U for unfavorable and consider change of .1 or less to be neutral) Sanborn Corporation's condensed comparative income statement and balance sheet for 20X8 and 20X7 appears below