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Erin, the owner of Sweets To Eat Ice Cream Shoppe, wants to know how her company is operating from a financial perspective. Her CPA has

Erin, the owner of Sweets To Eat Ice Cream Shoppe, wants to know how her company is operating from a financial perspective. Her CPA has given her the following numbers: Sales, $325,000; operating profits, $50,000; current assets, $125,000; current liabilities, $40,000; and total assets, $350,000. The ice cream retail industry norms include an operating profit margin of 10%, a return on assets of 11%, and a current ratio of 2.7. Determine the company's liquidity and compare the value to the industry ratios.

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