Income Statement 2021 2020 Sales 79,520 72,100 Sales Discounts 1,580 1,325 Net sales 77,940 70,775 Cost of goods sold 39,780 37,650 Gross profit 38,160 33,125 Selling, general and administrative expenses 15,600 14,900 Earnings before tax 22,560 18,225 Provision for income tax 4,512 3,645 Net income 18,048 14,580 Balance Sheet 2021 2020 Cash Short-term investments 2,820 2,820 10,434 9,102 Accounts receivable 1,974 1,722 Inventories 12,972 11,316 Current assets 28,200 24,600 Property, plant and equipment, net 24.375 23,825 Other assets 1,600 1,486 Total assets 54,175 49,911 Accounts payable 5,400 4,850 Accrued expenses Current liabilities Long-term debt Total liabilities Common stock 6.082 4,280 11,482 9,130 9,650 10,758 21,132 19,888 9,500 8,750 Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 23,543 21,273 33,043 30,023 $54,175 $49,911 Given the balance sheet and income statement provided, calculate the following r Round final answers to 2 decimal places Given the balance sheet and income statement provided, calculate the following ratios for 2021: Round final answers to 2 decimal places 1) Return on Asset Ratio = Net Income + Average Total Assets 2) Profit Margin Ratio = Net Income + Net Sales 3) Asset Turnover Ratio = Net Sales Average Total Assets 4) Current Ratio = Current Assets Current Liabilities 5) Acid-test Ratio = (Cash + Current Investments + Accounts Receivables) + Current Liabilities < Previous