Freedom Corporation reported these figures 3. Click the icon to view the balance sheet) Click the icon to view the income statement) Freedom Corporation has 3,125,000 shares of common stock outstanding Its stock has traded recently at S31 20 per share you would like to gain a better understanding of Freedom Corporation's financial position Assume all sales are on credit Read the requirement a. Inventory turnover Enter the formula on the first line, then calculate the inventory turnover on the next line (Enter amounts in thousands as provided to you in the problem statement. Round your answer to one decimal place.) Inventory turnover estond Slushedfald5871ecenterwines como sem Balance sheet ON Balance Sheets December 31, 2020 and 2019 (amounts in thousands) 2020 Assets 5 2019 7 Current assets 5 5,700 S 2.100 1 000 2,700 1.300 300 3 950 2.540 $ U Cash 9 Accounts receivables 10 Inventory 11 Other current assets Total current assets 13 Other assets 14 Total assets 15 16 Liabilities 17 Total current liabilities 12 750 S 23.500 35,250 1.000 20.000 28.000 S 15,000 $ 12.500 Print Done 27298 Balance sheet 9 Accounts receivables 2,100 1,860 10 Inventory 1,000 800 11 Other current assets 3,950 2,640 12 Total current assets $ 12,750 $ 23,500 8,000 20,000 13 Other assets 14 Total assets 36,250 $ 28,000 15 16 Liabilities 17 Total current liabilities $ 15,000 $ 6,250 21,250 $ 12,500 5,500 18 Long-term liabilities 19 Total liabilities $ 18,000 20 21 Stockholders' equity 22 Total common stockholders' equity 23 15,000 10,000 24 Total liabilities and equity 36,250 $ 28,000 Print Done 74% x ind your answe Income statement B A 1 2 Freedom Corporation Income Statement For the Year Ended December 31, 2020 (amounts in thousands) 3 3 4 2020 5 S 6 Sales revenues 13,140 1,980 11,160 660 7 Less: Cost of goods sold 8 Gross profit 9 Less: Operating expenses 10 Operating income $ S 10,500 500 11 Less: Interest expense 12 Income before income taxes $ 10,000 13 Less: Income tax expense 7,000 3,000 14 Net Income $ Print Done 74% x tur Requirement Calculate the following ratios for 2020 and interpret the results: a. Inventory turnover b. Days' sales in receivables c. Acid-test ratio d. Times-interest-earned e. Gross profit percentage f. Operating income percentage g. Return on stockholders' equity h. Earnings per share i. Pricelearnings ratio