Based on the data below, compute: Current Ratio (Industry Average is 2) Quick Ratio (Industry Average is 1) Inventory Turnover (Industry Average is 90 days) Accounts Receivable Turnover (Industry Average is 60days) Earnings Per Share (Industry Average is $2.60) Price-Earnings Ratio (Industry Average is 4) Be sure to comment on the meaning of your computations and compare to the industry average

Cash = $120,000 Supplies = $32,000 Accounts Receivable = $90,000 Accounts Payable = $145,000 Equipment = $565,000 Wages Payable = $70,000 Inventory = $151,000 Net Credit Sales = $579,000 Cost of Goods Sold = $279,000 Average Common Shares = 500,000 Net Income = $900,000 Market Price Per Share = $21 Mortgage Payable = $320,000 Preferred Dividends = $100,000