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Income statement Particulars 2019 Sales Revenue 1,60,000.00 Cost of goods sold 1,06,000.00 Gross profit f 54,000.00 Selling Expense 16,000.00 General and administrative Expenses 10,000.00 Lease

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Income statement Particulars 2019 Sales Revenue 1,60,000.00 Cost of goods sold 1,06,000.00 Gross profit f 54,000.00 Selling Expense 16,000.00 General and administrative Expenses 10,000.00 Lease Expense 1,000.00 Depreciation espense 10,000.00 Total operating expense 37,000.00 Operating profits 17,000.00 Interest expense 6,100.00 Net profit before taxes 10,900.00 Taxes 4,360.00 Net profit after taxes 6,540.00 llllllllll 2020 1,79,200.00 1,18,720.00 60,480.00 17,920.00 11,200.00 f 1,120.00 11,200.00 f 41,440.00 f 19,040.00 6,832.00 12,208.00 f 4,883.20 7,324.80 Balance sheet Particulars 2019 Cash f 500.00 Marketable securities f 1,000.00 Accounts receivables 25,000.00 Inventories 45,500.00 Total current assets 72,000.00 Land f 26,000.00 Building and equipment 90,000.00 Accumulated depreciation f 38,000.00 Net fixed assets 78,000.00 Total Assets 1,50,000.00 Accounts payable 22,000.00 Notes payable f 47,000.00 Total current liabilities 69,000.00 Long-term debt 22,950.00 Common stock 31,500.00 Retained earnings f 26,550.00 Total liabilities and stockhloder's equity 1,50,000.00 2020 f 545.00 f 1,090.00 27,250.00 49,595.00 78,480.00 28,340.00 98,100.00 41,420.00 85,020.00 1,63,500.00 f 23,980.00 51,230.00 75,210.00 25,015.50 34,335.00 f 28,939.50 1,63,500.00 Use the preceding financial statements to complete the following table. Assume the industry averages given in the table are applicable for both 2019 and 2020. 2019 2020 Ratio Current ratio Quick ratio Inventory turnover Average collection period Debt to equity ratio Interest coverage ratio Gross profit margin Net profit margin Return on total assets return on equity Industry Average 1.8 0.7 2.5 37.5 days 65% 3.8 38% 3.50% 4% 9.50% [ Analyze company's financial condition as it is related to (1) liquidity, (2) turnover, (3) leverage, and (4) profitability. Summarize the company's overall financial condition

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