Based on the following Balance Sheet and Income Statement for Windsor Manufacturing Inc., calculate the following financial ratios. In addition, comment on the Current Ratio and Acid-Test Ratio.

Current Ratio = ? ___________

Acid-Test Ratio = ? __________

Equity Ratio = ? _____________

Inventory-turnover Ratio = ? __________

Return-on-Assets Ratio = ? __________

Return-on-Equity Ratio = ? __________

Comment on Current Ratio and Acid-Test Ratio: (hint: address whether these two ratios meet the acceptable range discussed in class)

Balance Sheet for Windsor Manufacturing: As of Dec. 31, 2019 (in $000s) 224 638 838 100 1800 Assets Current assets Cash Accounts receivable Inventories Prepaid expenses Total current assets Long-term assets Land Plant and equipment Less accumulated depreciation Net plant and equipment Total long-term assets Total assets 800 2100 - 800 1300 2100 3900 Liabilities Current liabilities Accounts payable Working capital loan Total current liabilities Long-term liabilities Long-term bonds Total Liabilities 225 225 450 900 1350 Owners' Equity Common shares Contributed capital Retained earnings 450 900 1200 3900 Income Statement for Windsor Manufacturing: Month ending Dec. 31, 2019 (in $000s) 3625 2125 1500 Net sales Cost of goods sold Gross profit Operating expenses Selling expenses Depreciation expense Total bakert.exbiry25500otal liabilities and owners' equitya Total expenses 100 800 50 950 Net income before taxes Income taxes Net income after taxes 550 145 405