de Problem #1: Based on the following Balance Sheet and Income Statement for Windsor Manufacturing Inc., calculate the following financial ratios. In addition, comment on the Current Ratio and Acid-Test Ratio Balance Sheet for Windsor Manufacturing:- As of Dec. 31, 2019 (in $000s) Assets Current assets Income Statement for Windsor Cash 12 100 Manufacturing:- GICS 250 Month ending Dec. 31, 2019 (in $000s) Accounts receivable- 11 000 Net sales 96 500 Inventories 12 000 Cost of goods solde 57 0004 Prepaid expenses 650 Gross profit- 39 500 Total current assets 36 000 Long-term assets Operating expenses Lande 8 000 Selling expenses 14 650 Plant and equipment 18 550 Depreciation expenses 750 Less accumulated depreciation - 9000 General expense 8 1004 Net plant and equipment- 9 550 Interest expenses 2 500 Total long-term assets 17 550 Total expenses 26 000 Total assets 53 550 Net income before taxes 13 5004 Liabilities Income taxes 9 450 Current liabilities Net income after taxes 4 050 Accounts payable 7 500 Accrued wages 2 3504 Working capital loan 2 100 Total current liabilities Current Ratio = ? 11 950 Long-term liabilities Deferred income taxes 250 Acid-Test Ratio = ? Mortgage 4 450 Long-term bonds 3 350 Equity Ratio = ? Total long-term liabilities 8 050 Owners' Equity Inventory-turnover Ratio = ? Common shares 13 250 Contributed capitale 12 000 Return-on-Assets Ratio - ? Retained earnings 8 300 Total owners' equity 33 550 Total liabilities and owners' equity 53 550 Return-on-Equity Ratio = ? 1.1.1.1.1.11 Comment on Current Ratio and Acid-Test Ratio: (hint: address whether these two ratios meet the acceptable range discussed in class)