could you please write a narrative/ Explanation and reference for the balance sheet, the income statement, and the financial ratios.

1. Financial Ratios

Historical Ratios
	Beginning 01/06/2018 - Ending 31/5/2019	Beginning 01/06/2019 -Ending 31/5/2020
Current Ratio	3.06	3.11
Quick ratio	0.98	0.92
Total Debt to Total Assets Ratio	0.31	0.31
Total Debt to Equity Ratio	0.57	0.57
Time-Interest-Earned Ratio	-	-
Inventory Turnover	2.83	2.82
Fixed Assets Turnover	0.94	0.97
Total Assets Turnover	0.31	0.31
Accounts Receivable Turnover	8.40	9.94
Average Collection Period	43.45	36.72
Gross Profit Margin %	48%	45%
Operating Profit Margin %	196%	210%
Return on Total Assets ( ROA )	87%	85%
Return on Equity ( ROE )	158%	158%

BALANCE SHEET

Assets	Beginning 01/06/2018 - Ending 31/5/2019	Beginning 01/06/2019 - Ending 31/5/2020	Percent Change
Cash	$ 40,000	$40,000	0%
Account Receivable	101,000	$85,000	-16%
Inventories	300,000	300,000	0%
Total Current Asset	441,000	425,000	-4%
Equipment	19,000	21,000	-10%
Intangibles	50,000	50,000	0%
Total Assets	510,000	496,000	-3%
Liabilities
Accounts Payable	138,000	131,000	-5%
Other Current Liabilities	6,000	5,500	-8%
Total Current Liabilities	144,000	136,500	-6%
Long-Term Debt	14,000	14,000	0%
Other Long-Term Liabilities	2,000	1,500	-25%
Total Liabilities	160,000	152,000	-5%
Equity
Common Stock	110,000	110,000	0%
Retained Earnings	140,000	125,000	-11%
Treasury Stock	-	-	-
Paid in Capital & other	31,000	31,000	0%
Total Equity	281,000	266,000	-5%
Total Liabilities and Equity	$441,000	418,000