Calculate the following ratios for 2020 and indicate whether the ratio is a liquidity, solvency or profitability ratio. (Round Asset turnover ratio, Accounts receivable turnover ratio Current ratio and Earnings per share to 2 decimal places, e.g. 15.25. Round Average collection period, Debt to assets ratio, Profit margin, Return on assets ratio, Return common stockholders' equity rate and Times interest earned ratio to 1 decimal place, e.g. 15.2 or 15.2 . Use 365 days for calculation.) Type (1) Asset turnover ratio inimesi inimes (2) Accounts receivable turnover ratio (3) Average collection period (4) Current ratio (5) Debt to assets ratio COOOOOOOOO (6) Earnings per share (7) Profit margin (8) Return on assets ratio (9) Return on common stockholders' equity ratio (10) Times interest earned ratio (d) Comment on your findings. Liquidity : The company's liquidity is Solvency : The company's solvency is very Profitability : The company's profitability is Overall : By all measures the company appears to be both financially Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO TEXT tudy. WATERWAYS CORPORATION-INSTALLATION DIVISION Income Statements For the Year Ending December 31 2020 2019 Sales $5,536,343 $4,913,800 Less: Cost of goods sold 3,117,900 2,822,600 Gross profit 2,418,443 2,091,200 Operating expenses Advertising 49,700 47,700 Insurance 401,500 401,500 Salaries and wages 585,400 555,400 Depreciation 71,700 62,700 Other operating expenses 21,200 18,626 Total operating expenses 1,129,500 1,085,926 Income from operations 1,288,943 1,005,274 Other income Gain on sale of equipment 18,200 Other expenses Interest expense (12,000) Income before income tax 1,295,143 1,005,274 Income tax expense 388,543 301,582 Net income $906,600 $703,692 (a) WATERWAYS CORPORATION-INSTALLATION DIVISION Balance Sheets December 31 Assets 2020 2019 Current assets Cash $836,100 $742,500 Accounts receivable 679,300 540,400 Work in process 704,300 Inventory 16.00 7,500 Prepaid expenses 76,000 42,300 Total current assets 2,312,300 1,332,700 Property, plant, and equipment Land 298,000 298,000 Buildings 450,000 450,000 Equipment 932,100 801,000 Furnishings 40,200 40,200 Accumulated depreciation (486,900) (489,100) Total property, plant, and equipment 1,233,400 1,100,100 Total assets $3,545,700 $2,432,800 Liabilities and Stockholders' Equity Current liabilities Accounts payable $158,200 $128,000 Income taxes payable 100,500 79,200 Wages payable 4,500 2,000 Interest payable 1,100 Other current liabilities 14,600 15,300 Revolving bank loan payable 14,900 Total current liabilities 293,800 224,500 932,100 40,200 (486,900) 1,233,400 $3,545,700 801,000 40,200 (489,100) 1,100,100 $2,432,800 $128,000 79,200 2,000 Equipment Furnishings Accumulated depreciation Total property, plant, and equipment otal assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Wages payable Interest payable Other current liabilities Revolving bank loan payable Total current liabilities Long-term liabilities Note payable Total liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 4,500 1.100 14,600 14,900 293,800 AN 15,300 224.500 137,000 430,800 1,250,000 1,864,900 3,114,900 $3,545,700 1,250,000 958,300 2,208,300 $2,432,800