Cash Accounts receivable (net) Other current assets Investment Plant and equipment (net) 2020 $ 25,000 50,000 90,000 75,000 400.000 S640.000 2019 $ 20,000 45,000 95,000 70,000 370,000 $600.000 2018 $ 18,000 48,000 64,000 45,000 358,000 $533.000 Current liabilities Long-term debt Common stock, $10 Retained earnings $ 75,000 80,000 340,000 145,000 $640,000 $ 80,000 85,000 310,000 125,000 $600,000 $ 70,000 50,000 300,000 113,000 $533,000 ABC Corporation Income Statement For the Years Ended December 31 Sales revenue Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses (including income taxes) Net income 2020 $740,000 40,000 700,000 420.000 280,000 235.000 $45.000 2019 $700,000 50,000 650,000 400,000 250,000 220,000 $ 30.000 Additional information: 1. The market price of ABC Corporation's common stock was $4.00, $5.00, and $8.00 for 2018, 2019, and 2020, respectively. 2. All dividends were paid in cash. Required (a) Compute the following ratios for 2019 and 2020. (1) Profit margin (2) Asset turnover. (3) Earnings per share. (Weighted average common shares in 2020 were 32,000 and in 2019 were 31,000.) (4) Price-earnings ratio. (5) Payout ratio. (6) Debt to assets ratio. (12 marks) (6) Based on the ratios calculated, discuss briefly the company's performance in terms of financial position and operating results from 2019 to 2020 of ABC Corporation (8 marks)