Financial statements for the Genatron Manufacturing Corporation for the years 2020 and 2019 are shown. Genatron Manufacturing Corporation Balance Sheet 2020 2019 ASSETS $40,606 Cash $50,916 Accts.receivable 260,271 201,030 Inventory 501,554 450,009 Total current assets 802,431 701,955 Fixed assets, net 400,000 300,000 Total assets $1,202,431 $1,001,955 LIABILITIES AND EQUITY $171,513 Accts. payable $133,652 Bank loan 91,090 91.090 Accruals 70,000 50,000 Total current liabilities 332,603 274,742 Long-term debt, 12% 394,664 300,425 Common stock. $10 par 300,000 300,000 Capital surplus 41,723 41.723 Retained earnings 133,441 85.065 Total liabilities & equity $1,202,431 $1,001,955 Genatron Manufacturing Corporation Income Statement 2020 2019 Net sales $1,554,597 $1,354,597 Cost of goods sold 932,758 812,758 Gross profit 621.939 541,839 Expenses General and administrative 150,000 150,000 Marketing 150.000 130,000 Depreciation 52,081 40,994 Interest 55,993 44,224 Earnings before taxes 213,765 176,621 Income taxes 74,537 61,577 Net income $129.228 $115,044 * Your answer is incorrect. Calculate the current ratio and the acid-test ratio in each year. (Round answers to 2 decimal places.es 52.75.) 2020 2019 Current ratio Acid-test ratio e Textbook and Media Save for Later Attempts: 1 of 2 used Submit