Based on the above financial statements, calculate the following ratios for 2021: income statement Sales cost of goods sold gross profit 360,000 205,000 155,000 salaries expense depreciation expense interest expense rent expense loss on equipment total expenses operating income 44,000 15,000 1,400 48,000 2,000 110,400 44,600 net income 44,600 Statement of Retained Earnings Beginning Balance - Retained Earnings Plus - Net Income Less - Dividends Ending Balance - Retained Earnings 145,900 44,600 (3,200) 187,300 $ Balance sheets Balance sheets 2020 2021 changel Assets: Cash Accounts Receivable Inventory prepaid expenses Equipment 34,400 81,600 70,800 1,300 87,000 87,800 161,600 15,800 7,300 95,000 53,400 80,000 (55,000) 6,000 8,000 (9,000) Accum. Depr - Equipment total assets (33,500) 241,600 (42,500) 325,000 Liabilities: Accounts Payable accrued Liabilities Bonds Payable total liabilities 38,700 7,000 30,000 75,700 83,700 9,000 25,000 117,700 45,000 2,000 (5,000) 41,400 shareholders Equity: Common Stock Retained Earnings total equity total liabilities and shareholder equity 20,000 145,900 165,900 241,600 20,000 187,300 207,300 325,000 24,000 other info: new equipment purchase A. Current Ratio B. Gross Profit Percentage total assets 241,600 325,000 Liabilities: Accounts Payable accrued Liabilities Bonds Payable total liabilities 38,700 7,000 30,000 75,700 83,700 9,000 25,000 117,700 shareholders Equity: Common Stock Retained Earnings total equity total liabilities and shareholder equity 20,000 145,900 165,900 241,600 20,000 187,300 207,300 325,000 other info: new equipment purchase A. Current Ratio 24,000 B. Gross Profit Percentage C. Debt Ratio D. Debt to Equity Ratio