BGT Electronics, Inc. Balance Sheet ($000) Carson Electronics, Inc. Balance Sheet ($000) $2,050 $1,530 Cash 4,470 Accounts receivable 5,950 2,550 Inventories 1,480 $10,030 Current assets $8,000 Net fixed assets 15,950 25,010 Total assets $23,950 $35,040 Accounts payable $2,470 $5,010 Accrued expenses 1,040 1,460 Short-term notes payable 3,550 1,480 Current liabilities $7,060 $7,950 Long-term debt 7,980 3,970 23,120 Owners' equity 8,910 Total liabilities and owners' equity $23,950 $35,040 Carson nics, Inc. BGT Electronics, Inc. Income Statement ($000) Income Statement ($000) Net sales (all credit) $48,050 $70,010 (35,990) (42,050) Cost of goods sold $12,060 $27,960 Gross profit Operating expenses (8,000) (11,960) Net operating income $4,060 $16,000 Interest expense (1,160) (500) $2,900 Earnings before taxes $15,500 Income taxes (35%) (1,015) (5,425) $1,885 $10,075 Net income Calculate the following ratios for both Carson and BGT: Current ratio Times interest earned Inventory turnover Total asset turnover Operating profit margin Operating return on assets Debt ratio Average collection period Fixed asset turnover Return on equity b. Analyze the differences you observe between the two firms. Comment on what you view as weaknesses in the performance of Carson as compared to BGT that Carson's management might focus on to improve its operations