Jimenez Corporation: Forecasted Balance Sheet as of December 31, 2020 Assets Cash Accounts receivable Inventories Total current assets $ 73,000 439,000 893,000 $1,405,000 431,000 $1,836,000 Fixed assets Total assets Liabilities and Equity Accounts payable Notes payable Accruals Total current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity $ 332,000 116,000 154,000 $ 602,000 405,250 574,040 254,710 $1,836,000 Jimenez Corporation: Forecasted Income Statement for 2020 Sales $4,290,000 Cost of goods sold 3,700,000 Selling, general, and administrative expenses 402,456 Earnings before interest and taxes (EBIT) $ 187,544 Interest expense 40,000 Earnings before taxes (EBT) $ 147,544 Taxes (25%) 36,886 Net income $ 110,658 $ 4.81 Jimenez Corporation: Per Share Data for 2020 EPS Cash dividends per share E P/E ratio Market price (average) Number of shares outstanding $ 0.95 5.0 $24.06 23,000 Industry Ratiosa Quick ratio 1.0 Current ratio 2.7 Inventory turnoverb 7.0 Days sales outstanding 32.0 days Fixed assets turnoverb 13.0 Total assets turnoverb 2.6 Return on assets 9.1% Return on equity 18.2% Profit margin on sales 3.5% Debt-to-assets ratio 21.0% Liabilities-to-assets ratio - 50.0% P/E ratio E 6.0 Market/Book ratio 3.5 Notes: Industry average ratios have been stable for the past 4 years. Based on year-end balance sheet figures. "Calculation is based on a 365-day year. - Calculate Jimenez's 2020 forecasted ratios, compare them with the industry average data, and comment briefly on Jimenez's projected strengths and weaknesses. Assume that there are no changes from the prior period to any of the operating balance sheet accounts. Do not round intermediate calculation. Round your answers to two decimal places. Ratios Firm Industry Comment Quick ratio 1.0 -Select- Current ratio 2.7 -Select- Inventory turnover 7.0 -Select- Days sales outstanding days 32 days -Select- Fixed assets turnover 13.0 -Select- v Total assets turnover 2.6 -Select- Return on assets % 9.1% -Select- Return on equity % 18.2% -Select- Profit margin on sales % 3.5% -Select- Debt-to-assets ratio % 21.0% -Select- Liabilities-to-assets ratio % 50.0% -Select- P/E ratio 6.0 -Select- Market/Book ratio 3.5 -Select- So, the firm appears to be -Select- v managed