Examine the balance sheet for EFG Corporation as of December 31, 2023, to evaluate its capital structure and overall financial health.

EFG Corporation Balance Sheet	As of December 31, 2023
Assets
Current Assets
Cash	$75,000
Accounts Receivable	$55,000
Inventory	$45,000
Prepaid Expenses	$10,000
Total Current Assets	$185,000
Non-Current Assets
Property, Plant, and Equipment (PPE)	$350,000
Less: Accumulated Depreciation	$120,000
Net PPE	$230,000
Intangible Assets (Trademarks)	$35,000
Total Assets	$450,000
Liabilities and Shareholders' Equity
Current Liabilities
Accounts Payable	$40,000
Short-term Debt	$25,000
Accrued Liabilities	$15,000
Total Current Liabilities	$80,000
Non-Current Liabilities
Long-term Debt	$120,000
Total Liabilities	$200,000
Shareholders' Equity
Common Stock	$180,000
Retained Earnings	$70,000
Total Shareholders' Equity	$250,000
Total Liabilities and Shareholders' Equity	$450,000

Questions:

1. Calculate the current ratio and explain its significance in evaluating the company's liquidity.
2. Determine the debt-to-equity ratio and discuss its importance in understanding the company's financial leverage.
3. Assess the return on assets (ROA) and explain what it reveals about the company's efficiency in using its assets to generate profit.