Financial statement analysis The financial statements of Zach Industries for the year ended December 31, 2019, follow B a. Use the financial statements to complete the following table Assume the industry averages given in the table are applicable for both 2018 and 2019, b. Analyze Zach Industries financial condition as it is related to (1) liquidity. (2) activity. (3) debt, (4) profitability, and (5) market. Summarize the company's overall financial condition, a. The current ratio's (Round to two decimal places) $160,300 106,200 $54,100 Zach Industries Income Statement for the Year Ended December, 31, 2019 Sales revenue Less: Cost of goods sold Gross profits Less: Operating expenses Selling expense General and administrative expenses Lease expense Depreciation expense Total operating expense Operating profits Less: Interest expense Net profits before taxes Less: Taxes Net profits after taxes $16,300 9,700 1,050 9,800 $36,850 $17,250 5,800 $11,450 4,370 $7,080 Zach Industries Balance Sheet December 31, 2019 Assets Cash Marketable securities Accounts receivable Inventories Total current assets Land Buildings and equipment Less: Accumulated depreciation Net fixed assets $460 1,000 24,900 45,700 $72,060 $26,500 90,200 37,600 $79,100 $151,160 Total assets Liabilities and Stockholders' Equity Accounts payable $22,200 Notes payable 47,300 Total current liabilities $69,500 Long-term debt $22,990 Common stock* $31,200 Retained earnings $27,470 Total liabilities and stockholders' equity $151,160 *The firm's 3,000 outstanding shares of common stock closed 2019at a price of $24 per share