Freedom Corporation reported these figures: (Click the icon to view the balance sheet) B! (Click the icon to view the income statement.) Freedom Corporation has 2,500,000 shares of common stock outstanding Its stock has traded recently at $32.90 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 Balance sheet A B 1 Freedom Corporation 2 Balance Sheets 3 December 31, 2020 and 2019 4 (amounts in thousands) 5 2020 2019 6 Assets 7 Current assets 8 Cash $ 3,720 $ 2,600 9 Accounts receivables 3.000 2.460 10 Inventory 1,900 1,300 11 Other current assets 2,300 1,990 12 Total current assets S 10.920 $ 8.350 13 Other assets 20.000 18,000 14 Total assets es 30.920 $ 26,350 15 - X Balance sheet 9 Accounts receivables 3,000 2.460 10 Inventory 1900 1,300 11 Other current assets 2,300 1.990 12 Total current assets $ 10,920 $ 8,350 13 Other assets 20,000 18,000 14 Total assets $ 30.920 $ 26,350 15 16 Liabilities 17 Total current liabilities $ 12.000 $ 10,500 18 Long-term liabilities 7,920 8,050 19 Total liabilities $ 19.920 $ 18,550 20 21 Stockholders' equity 22 Total common stockholders' equity 11,000 7,800 23 $ 30,920 $ 26,350 24 Total liabilities and equity Income statement A B 1 1 Freedom Corporation 2 Income Statement 3 For the Year Ended December 31, 2020 4 (amounts in thousands) 5 2020 6 Sales revenues $ EA 15,330 7 Less: Cost of goods sold 5,120 8 Gross profit $ 10,210 3,010 9 Less: Operating expenses 10 Operatg income $ 7,200 11 Less: Interest expense 300 12 Income before income taxes $ 6.900 13 Less: Income tax expense 4,550 14 Net income $ 2,350 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