E13.24 (LO4) (Ratio Computations and Analysis) EAN Company's condensed financial statements provide the following information (amounts in thousands).

EAN Ltd. Statement of Financial Position
	December 31, 2019			December 31, 2018
Property, plant, and equipment		897,000		853,000
Current assets
Inventory	440,000		360,000
Prepaid expenses	3,000		7,000
Accounts receivable	158,000		80,000
Short-term investments	80,000		40,000
Cash	52,000	733,000	60,000	547,000
Total assets		1,630,000		1,400,000
Equity		990,000		840,000
Bonds payable		400,000		400,000
Current liabilities		240,000		160,000
		1,630,000		1,400,000

Income Statement For the Year Ended 2019
Sales revenue	1,640,000
Cost of goods sold	(800,000)
Gross profit	840,000
Selling and administrative expenses	(480,000)
Interest expense	(40,000)
Net income	320,000

Instructions

a. Determine the following for 2019.

1. Current ratio at December 31.

2. Acid-test ratio at December 31.

3. Accounts receivable turnover.

4. Inventory turnover.

5. Return on assets.

6. Profit margin on sales.

b. Prepare a brief evaluation of the financial condition of EAN Ltd. and of the adequacy of its profits.