Calculate liquidity, solvency and profitability ratios. (LO9) PSA1.9 Here are the comparative statements of City Sales Pty Ltd: CITY SALES PTY LTD Statement of profit or loss for the year ended 30 June 2015 2015 2014 Net sales $2 200 000 $2 000 000 Cost of sales 1 120 000 996 000 Selling and administrative expense 830 000 824 000 Interest expense 31 000 30 000 Income tax expense 104 000 50 000 Profit $ 115 000 100 000 CITY SALES PTY LTD Statement of financial position as at 30 June 2015 2015 2014 Assets Current assets Cash $ 100 500 $ 60 000 Short-term investments 90 000 50 000 Accounts receivable (net) 139 000 125 000 Inventory 145 000 115 500 Total current assets 474 500 350 500 Property, plant and equipment (net) 540 300 440 300 Total assets $1 014 800 $790 800 Liabilities Current liabilities Accounts payable $ 146 000 $ 65 400 Income taxes payable 104 000 34 600 Total current liabilities 250 000 100 000 Debentures payable 210 000 200 000 Total liabilities 460 000 300 000 Net assets $554 800 $490 800 Equity Contributed equity $350 000 $300 000 Retained earnings 204 800 190 800 Total equity $_554 800 5_490 800The cash provided by operating activities for 2015 was $260 000. C Required Calculate these values and ratios for 2015: a. Working capital. b. Current ratio. c. Current cash debt coverage. d. Debt to total assets ratio. e. Cash debt coverage. f. Profit margin. g. Return on assets