Living History Travel Guides, Inc. publishes travel books focusing on historical sites in the United States Problem 21-29 and Canada. The firm's condensed financial statements for 20x0 are as follows. Ratio Analysis (LO 2, L0 5) Living History Travel Guides, Inc. comin Stater For the Year Ended December 31, 20 0 Sales . $1.190 Cost of goods sold 690 Gross margin $ 500 250 Operating expense Operating income $ 250 Interest expense Income before income taxes Income lax expanse 100 Net income $ 100 Living History Travel Guides, Inc. Balance Sheet witcher 31, 20-0 Cash $ 100 Accounts payable 120 Marketable securities 150 Short-term nite pe 180 Accounts receivable (net of $15 Accrued Rod 100 allowance for uncollectible accounts) 200 Bonds paran's 400 Inventories 400 200 Prepaid expenses 200 Property, plant, and equipment (net of 100 $220 accumulated depreciation) 530 200 Patents 70 Total labites and sipckholders equity $1.500 Total assets $1.500 Additional Information Gross accounts receivable amounted to $100,000, and the allowance for uncollectible ac was $20,000 as of January 1, 20:0 Total assets amounted to 51,600,000, and common stockho amazed to $300 000 on January 1. 20-0 The liquidation value of the preferred stock is equal to par value. Preferred dividends are paid at the rate of 8 percent. The company's income tax rate was 30 percent Chapter 21 Analyzing Financial States Compute the following range. Current ratio on December 31, 2030 Del equint rano on December 310 20-20 merel12:53