* Income statements X - A B 1 2 Sanfield, Inc. Comparative Income Statements For the Years Ended December 31, 2020 and 2019 (amounts in thousands) 3 4 5 2020 2019 6 Sales revenues $ 425,390 452,300 $ 238,000 222,000 $ 214,300 $ 203,390 7 Less: Cost of goods sold 8 Gross profit 9 Less: Operating expenses 10 Operating income 11 Less: Interest expense 12 Income before income taxes 136,000 132,000 $ 78,300 $ 71,390 11,800 10,800 67,500 $ $ 59,590 13 Less: Income tax expense 20,700 21,790 AR ROnlis 37.800 Print Done Comparative financial statement data of Sanfield, Inc., follow: Click the icon to view the income statements.) (Click the icon to view the balance sheets.) 1. Market price of Sanfield's common stock: $47.88 at December 31, 2020, and $31.35 at December 31, 2019 2. Common shares outstanding: 10,000,000 during 2020 and 10,000,000 during 2019 3. All sales are credit sales Read the requirements. Requirement 1. Compute the following ratios for 2020 and 2019. (Round all ratios to two decimal places.) 2020 2019 a. Current ratio 2020 2019 b. Times-interest-earned ratio 2020 2019 C. Inventory turnover 2020 2019 d. Operating income percentage BA Enter any number in the edit fields and then continue to the next question. Cash $ 92,000 $ 93,000 Accounts receivable 119,000 89,500 $ 85, Inventory 1 Prepaid expenses 136,000 204,000 $ 166, 13,000 9,500 2 Total current assets 3 Property, plant, and equipment, net $ 360,000 $ 396,000 202,000 178,000 14 Total assets $ 562,000 $ 574,000 15 Liabilities 16 Current liabilities $ 240,000 $ 275,000 73,000 68,000 $ 313,000 $ 343,000 17 Long-term liabilities 18 Total liabilities 19 Stockholders' equity 20 Preferred stock, 4% 21 Total common stockholders' equity 22 Total stockholders' equity $ 120,000 $ 120,000 129,000 111,000 $ 109,000 $ 249,000 $ 231,000