Calculate the current ratio for 2019. Calculate the quick ratio for 2019. Calculate debt to total assets for 2019. Calculate times interest earned for 2019.

Tasty Corp. is a manufacturer of gourmet food products that are sold in specialty stores across North America. The company shares trade on the Toronto Stock Exchange. The year-end closing share price was $14.00, $13.00 and $12.00 for 2017, 2018 and 2019 respectively. Comparative financial statements for Tasty follow. Tasty Corp. Income Statement Year ended December 31 2019 2018 2017 Sales $ 1,252,000 $ 1,475,000 $ 1,560,000 Less: Cost of goods sold 685,000 725,000 745,000 Gross margin $ 567,000 $ 750,000 $ 815,000 Operating expenses $ 146,000 $ 142,000 $ 135,000 Salaries, wages & benefits Utilities 28,400 26,500 25,000 Depreciation/amortization 24,000 35,000 35,000 Insurance 17,500 15,500 15,000 Leasing 34,000 28,000 28,000 Other 8,500 2,500 6,500 Total operating expenses 258,400 $ 249,500 $ 244,500 Earning before interest and taxes 308,600 $ 500,500 $ 570,500 Interest expense 36,000 48,000 54,000 Earnings before tax 272,600 $ 452,500 $ 516,500 Income tax (20%) 54,520 103,300 90,500 218,080 $ 362,000 $ 413,200 Net income Additional information: Contribution margin 51.00% 49.00% 52.00% 2019 2018 2017 Assets Current assets Cash 185,000 $ 148,000 $ $ $ $ $ Tasty Corp, Balance Sheet at December 31 $ 156,000 Tasty Corp, Balance Sheet at December 31 2019 2018 $ 185,000 $ 148,000 $ 37,500 46,500 12,400 22,300 39,000 44,000 $ 273,900 $ 260,800 $ $ 600,000 $ 600,000 $ Assets Current assets Cash Account receivable Prepaid expenses Inventories Total Current Assets Non-current assets Land Building Accumulated depreciation, building Equipment Accumulated depreciation, equipment Total Non-current assets Total Assets Current liabilities Liabilities & Equity Current Liabilities. Line of credit Account payable Wages payable Current portion of mortgage payable Total Current Liabilities 2017 156,000 48,000 18,500 45,000 267,500 600,000 1,100,000 1,100,000 1,100,000 (285,000) (265,000) (250,000) 259,000 348,000 348,000 (89,500) (136,000) (125,000) $ 1,584,500 $ 1,647,000 $ 1,673,000 $ 1,858,400 $ 1,907,800 $ 1,940,500 $ 29,500 $ 28,000 $ 46,800 25,000 43,000 51,200 9,500 4,500 6,500 36,000 36,000 36,000 $ 126,200 $ 115,300 $ 110,500 Non-Current Liabilities Mortgage payable 8% Bonds payable, due 2021 Total Non-Current Liabilities Total Liabilities Equity Common shares, 200,000 shares issued Preferred shares, 15,000 shares issued Retained earnings Total Equity Total Liabilities & Equity Additional information for 2019: - bonds were redeemed - no new debt was issued - equipment originally costing $89,000 was sold for its book value of $49,000 - dividends of $100,000 were declared & paid in 2019 367,000 $ 400,000 $ 436,000 400,000 500,000 500,000 $ 767,000 $ 900,000 $ 936,000 $ 893,200 $1,015,300 $1,046,500 $ 600,000 $ 600,000 $ 600,000 65,000 65,000 65,000 300,200 227,500 229,000 $ 965,200 $ 892,500 $ 894,000 $ 1,858,400 $ 1,907,800 $ 1,940,500