Comparative financial statements for Cullumber and Bramble Ltd. are shown below. CULLUMBER AND BRAMBLE LTD. Income Statement Year Ended December 31 2021 2020 Net sales $875,000 $815,000 Cost of goods sold 590,000 545,000 Gross profit 285,000 270,000 Operating expenses 154,000 150,000 Profit from operations 131,000 120,000 Other revenues and expenses Interest expense 30,000 20,000 Profit before income tax 101,000 100,000 Income tax expense 37,000 25,000 Profit $64,000 $75,000 Assets Cash Accounts receivable Inventories CULLUMBER AND BRAMBLE LTD. Balance Sheet December 31 2021 2020 $86,000 $90,000 115.000 115,000 130.000 125.000 2019 $10,000 110,000 98.000 2019 $10,000 110,000 98,000 150,000 300,000 $668,000 CULLUMBER AND BRAMBLE LTD. Balance Sheet December 31 Assets 2021 2020 Cash $86,000 $90,000 Accounts receivable 115,000 115,000 Inventories 130,000 125,000 Prepaid expenses 25,000 21,000 Land, buildings, and equipment 390,000 305,000 Total assets $746,000 $656,000 Liabilities and Shareholders' Equity Liabilities Notes payable $110,000 $100,000 Accounts payable 46,000 43,000 Accrued liabilities 32,000 42.000 Bonds payable, due 2024 190,000 150,000 Total liabilities 378,000 335,000 Shareholders' equity Common shares (20,000 issued) 200,000 200,000 Retained earnings 168,000 121,000 Total shareholders' equity 368,000 321,000 Total liabilities and shareholders' equity $746,000 $656,000 $100,000 60,000 35,000 174,000 369,000 200,000 99,000 299,000 $668,000 Common shares (20,000 issued) Retained earnings Total shareholders' equity Total liabilities and shareholders' equity 200,000 168,000 368,000 $746,000 200,000 121,000 321.000 $656,000 200,000 99,000 299,000 $668,000 Additional information: 1. Seventy-five percent of the sales were on account. 2. The allowance for doubtful accounts was $4,000 in 2021. $5,000 in 2020, and $3,000 in 2019. 3. In 2021 and 2020, dividends of $4,000 and $9,000, respectively, were paid to the common shareholders. 4. Cash provided by operating activities was $103,500 in 2021 and $120,000 in 2020. 5. Cash used by investing activities was $107,500 in 2021 and $35,000 in 2020. Calculate all possible liquidity, solvency, and profitability ratios for 2021 and 2020. (Round answers for Collection period, D