Brothers Mike and Tim Hargenrater began operations of their tool and die shop (H & H Tool, Inc.) on January 1, 2019. The annual reporting period ends December 31. The trial balance on January 1, 2020, follows:

Transactions during 2020 follow:

1. Borrowed $20,000 cash on a 5-year, 6 percent note payable, dated March 1, 2020.
2. Purchased land for a future building site on March 15, 2020; paid cash, $16,000.
3. Earned $255,000 in revenue. Transactions dated August 30, 2020 , including $54,000 on credit and the rest in cash.
4. Sold 6,000 additional shares of capital stock for cash at $1 market value per share on January 1, 2020.
5. Incurred $95,000 in wages expense and $30,000 in miscellaneous expenses for 2020, with $25,000 on credit and the rest paid in cash.
6. Collected accounts receivables on November 10, 2020, $39,000.
7. Purchased other assets on November 15, 2020, $16,000 cash.
8. Purchased supplies on account for future use on December 1, 2020, $28,000.
9. Paid accounts payable on December 15, 2020, $27,000.
10. Signed a three-year $34,000 service contract on December 17, 2020 to start February 1, 2021.
11. Declared cash dividends on December 1, 2020, $26,000, which were paid by December 31.

Data for adjusting entries:

12. Supplies counted on December 31, 2020, $19,000.
13. Depreciation for the year on the equipment, $15,000.
14. Interest accrued on notes payable (to be computed).
15. Wages earned by employees since the December 24 payroll but not yet paid, $18,000.
16. Income tax expense, $14,000, payable in 2021.

Credit 13,000 H & H Tool, Inc. Trial Balance on January 1, 2020 Account Titles Debit Cash 8,000 Accounts receivable 7,000 Supplies 16,000 Land Equipment 83,000 Accumulated depreciation (on equipment) Other noncurrent assets (not detailed to simplify) 12,000 Accounts payable Wages payable Interest payable Dividends payable Income taxes payable Long-term notes payable Common stock (12,000 shares, $.50 par value) Additional paid-in capital Retained earnings Service revenue Depreciation expense Supplies expense Wages expense Interest expense Income tax expense Miscellaneous expenses (not detailed to simplify) Totals 126,000 6,000 85,000 22,000 126,000 Requirement General Journal General Ledger Trial Balance Income Statement Statement of SE Balance Sheet Stmt of Cash Flows Analysis Compute the applicable ratios shown below for 2017. (Round your answers for a. and b. to 2 decimal places. Enter your answer for c. as a whole percentage rounded to one decimal place (i.e. .288 should be entered as 28.8).) a. Compute the current ratio for 2020. Current ratio b. Compute the total asset turnover ratio for 2020. Total asset turnover c. Compute the net profit margin ratio for 2020. Net profit margin %