Comparative financial statement data of Sanfield, Inc., follow: (Click the icon to view the balance sheets.) Market price of Sanfield's common stock: $53.36 at December 31, 2020, and $34.00 at December 31, 2019 Common shares outstanding: 11,000,000 during 2020 and 11,000,000 during 2019 (Click the icon to view the income statements.) 1. 2. 3. All sales are credit sales. Read the requirements. Income statements Balance sheets Requirement 1. Compute t A B 1 1 Sanfield, Inc. 2 2 Comparative Income Statements a. Current ratio 3 3 For the Years Ended December 31, 2020 and 2019 4 4 (amounts in thousands) 5 Sanfield, Inc. B Comparative Balance Sheets December 31, 2020 and 2019 (amounts in thousands) 2020 D 2019 2018* b. Times-interest-earned 5 2020 2019 6 Assets 6 Sales revenues $ 478,210 $ c. Inventory turnover 7 Less: Cost of goods sold 252,000 444,250 230,000 7 Current assets: 8 Cash 8 Gross profit $ 226,210 $ 214,250 9 Accounts receivable $ 90,000 $91,000 108,000 136,500 $110,000 9 Less: Operating expenses 139,000 133,000 10 Inventory 141,000 159,000 $241,000 d. Operating income per 10 Operating income $ 87,210 $ 81,250 11 Prepaid expenses 9,000 5,500 11 Less: Interest expense 11,400 12,500 12 Total current assets $ 348,000 $ 392,000 e. Return on common st 12 Income before income taxes $ 75,810 $ 68,750 13 Property, plant, and equipment, net 203,000 180,000 13 Less: Income tax expense 14 Net income 21,210 27,350 14 Total assets $ 551,000 $ 572,000 $ 54,600 $ 41,400 15 Liabilities Next