CARVER INC. BALANCE SHEET DECEMBER 31, 2017 $45,000 Notes payable (short-term $50,000 Cas vables $110,000 Accounts payable 32,000 Recei Less Allowance 15,000 95,000 Accrued liabilities 5,000 170,000 Common stock (par $50 Inventory 260,000 Prepaid insurance 8,000 Retained earnings 141,000 Land 20,000 Equipment (net) 150,000 S488,000 $488,000 CARVER INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31r 2017 Sales revenue $1,400,000 Cost of goods sold Inventory, Jan. 1, 2017 $200,000 purch 790,000 Cost of goods available for sale 990,000 Inventory, Dec. 31, 2017 170,000 Cost of goods sold 820,000 Gross profit on sales 580,000 170,000 operating expenses 410,000 Net income Compute the following ratios or relationships of Carver Inc. Assume that the ending account balances are representative unless the information provided indicates differently. (1) Current ratio (2) Inventory turnover (3) Accounts receivable turnover (4) Earnings per share (5) profit margin on sales (6) Return on assets on December 31, 2017