Income statement and balance sheet data for The Athletic Attic are provided below.

THE ATHLETIC ATTIC Income Statements For the years ended December 31
	2019	2018
Net sales	$11,520,000	$10,000,000
Cost of goods sold	7,520,000	6,200,000
Gross profit	4,000,000	3,800,000
Expenses:
Operating expenses	1,680,000	1,630,000
Depreciation expense	200,000	200,000
Interest expense	48,000	48,000
Income tax expense	496,000	430,000
Total expenses	2,424,000	2,308,000
Net income	$1,576,000	$1,492,000

THE ATHLETIC ATTIC Balance Sheets December 31

2019

2018

2017

Assets

Current assets:

Cash

$ 233,000

$ 162,000

$ 220,000

Accounts receivable

998,000

748,000

768,000

Inventory

1,733,000

1,363,000

1,033,000

Supplies

138,000

108,000

83,000

Long-term assets:

Equipment

1,420,000

1,420,000

1,420,000

Less: Accumulated depreciation

(680,000)

(480,000)

(280,000)

Total assets

$3,842,000

$3,321,000

$3,244,000

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable

$ 198,200

$ 129,000

$ 112,200

Interest payable

4,800

0

4,800

Income tax payable

48,000

43,000

38,000

Long-term liabilities:

Notes payable

580,000

580,000

580,000

Stockholders' equity:

Common stock

680,000

680,000

680,000

Retained earnings

2,331,000

1,889,000

1,829,000

Total liabilities and stockholders equity

$3,842,000

$3,321,000

$3,244,000

	2018		2019
Receivables turnover ratio		times		times
Inventory turnover ratio		times		times
Current ratio		to 1		to 1
Debt to equity ratio		%		%

	2018		2019
Gross profit ratio		%		%
Return on assets		%		%
Profit margin		%		%
Asset turnover		times		times