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Below is the 2021 and 2022 Statement of Financial Position and Statement of Income for Meadow Farms Inc. From the data above, calculate the following

Below is the 2021 and 2022 Statement of Financial Position and Statement of Income for Meadow Farms Inc. From the data above, calculate the following ratios. Current Ratio,Quick Ratio,Debt to Equity ratio 2022/2021

Cash

$300,000

$150,000

Short term investment

800,000

550,000

Accounts receivable

900,000

850,000

Inventory

200,000

250,000

Current assets

2,200,000

1,800,000

Land

800,000

600,000

Building, at cost

900,000

700,000

Building, accumulated depreciation

(300,000)

(250,000)

1,400,000

1,050,000

Total Assets

3,600,000

2,850,000

Accounts payable

450,000

350,000

Long-term debt

615,000

400,000

Common shares

1,000

1,000

Retained earnings

2,534,000

2,099,000

Total shareholders equity

2,535,000

2,100,000

Total Liabilities and Equity

3,600,000

2,850,000

Net Sales

$4,000,000

$5,700,000

Cost of goods sold

3,000,000

5,000,000

Gross Profit

1,000,000

700,000

Depreciation expense

50,000

75,000

Operating expenses

280,000

290,000

330,000

365,000

Net Income before taxes

$670,000

$335,000

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