(Financial statement analysis) The T.P. Jarmon Company manufactures and sels a line of exclusive spontswear. The fim's sales were $600,100 for the year just ended, and its total assets excoeded $500,000. The company was started by Mr. Jarmon just 10 years ago and has been profitablo every year since its inception. The chiet fruncial officer for the firm, Brent Vethim, has declded to seek a line of credit from the firm's bans totaling $80,000. In the past, the company has reliod on ts suppliers to finance a large part of ts needs for inventiory. However, in recent months tight money conditions have led the firm's suppliers to offer sizable cash dscounts to speed up payments for purchases. Mr. Vehlim wants to use the line of credit to supplant a large portion of the firm's payables during the summer, which is the firm's peak seasonal sales period. The firm's two most recent balance sheets were presented to the bank in support of its loan request. In addition, the fircn's income statement for the year just ended was provided. These simements are found in the following tables: . Jan Fama, associate credit analyst for the Merchants National Bank of Midland, Michigan, was assigned the task of analyzing Jarmon's loan request. a. Calculate the following financial ratios for 2013: b. Which of the ratios calculated in part (a) do you think should be most crucial in determining whether the bank should extend the line of credm? c. Use the information provided by the financial ratios and industry-norm ratios to decide if you would support making the loan. Discuss the basis for your recommendation. a. Calculate the foliowing financial ratios for 2013: T. P. Jarmon's current ratio is (Round to two decimal places.) Data table Data table