Falls Jewelry Co. Balance Sheet as of (000s) Assets Cash Accounts Receivable - Avg Inventory - Avg 12/31/20 12/31/21 $ 10,000 $ 2,000 60,000 85,000 40,000 55,000 Current Assets 110,000 142,000 Property Plant & Equipment 350,000 470,000 Accumulated Depreciation (50,000) (65,000) PP & E, Net 300,000 405,000 Total Assets $ 410,000 $ 547,000 Liabilities Accounts Payable Long-term Debt Total Liabilities Stockholders' Equity Common Stock 30,000 36,000 200,000 300,000 230,000 336,000 100,000 100,000 Retained Earnings 80,000 111,000 Total Stockholders' Equity (SE) 180,000 211,000 Total Liabilities and SE $ 410,000 $ 547,000 4. Calculate the following ratios: 2020 2021 Current Ratio Quick Ratio Days Sales in AR Days Sales in Inventory Liabilities to Equity 5. What observations would you make regarding the balance sheet (at least 2)? Use at least 1 ratio to support each observation