Calculate net profit margin, return on assets and return on equity.

PARTA Calypso Corporation reported the following comparative current assets and current liabilities: Dec. 31, 2020 Dec. 31, 2019 Current assets Cash $ 30,000 $ 25,000 Trading investments.. 40,000 15,000 Accounts receivable. . 65,000 95,000 Inventory 120,000 Prepaid expenses. 35.000 20.000 Total current assets $290,000 $245.000 Current liabilities 000 90,000 Accounts payable. $125,000 $115,000 Salaries payable 35,000 30,000 Income tax payable 25.000 10.000 Total current liabilities. $185.000 $155.000 During 2020, credit sales and cost of goods sold were $480,000 and $288,000, respectively. Instructions Calculate the following ratios for 2020: Show your work (6 MARKS): (a) Current ratio (b) Receivables turnover (c) Inventory turnover PARTB PARTB Abbreviated versions of the financial statements for George Industries are presented below. GEORGE INDUSTRIES Statement of Income For the Year Ended December 31, 2020 $1,700,000 Sales. Costs and expenses Cost of goods sold. Operating expenses. Interest expense............. Income before income taxes. $1,140,000 364,800 37.800 1.542.600 157,400 Income tax expense. 55,090 Net income. $ 102.310 GEORGE INDUSTRIES Statement of Financial Position December 31, 2020 2020 Total assets 2019 $842, 110 329 600 512.510 Total liabilities Total shareholders' equity. 5717 800 279.600 438,200