[LO 20-4) 20-37 Ratio Analysis Consider the following balance sheet and income statement for Metro Eagle Outfitters, in condensed form, including some information from the cash flow statement: Balance Sheet 2022 2021 2020 Cash and short-term investments $ 630,992 $ 745,044 $ 734,693 Accounts receivable 46,321 40,310 36,721 Inventory 332,452 367,514 301,208 Other current assets 132,035 134,620 101,788 Total current assets 1,141,800 1,287,488 1,174,410 Long-lived assets 582,832 647,482 593,802 Total assets $1,724,632 $1,934,970 $1.768,212 Current liabilities $ 432,902 $ 405,401 $ 387,837 Total liabilities 503,445 517,786 417,141 Shareholders' equity 1,221,187 1.417.184 1,351,071 Total liabilities and equity $1,724,632 $1,934,970 $1.768,212 Income Statement Sales $3,475,802 $3,120,065 $2,945,294 Cost of sales 2,085,480 1,975,471 1,763,143 Gross margin $1,390,322 $1,144,594 $1,182,151 Operating expenses 988,284 869,385 864,776 Earnings before interest and taxes $ 402,038 $ 275,209 $ 317,375 Net income $ 232,108 $ 151,705 $ 140,647 Interest paid in cash 80 182 161 Taxes paid in cash 142,009 99,756 45,737 Cash Flows Cash flow from operations $ 499,671 $ 398,137 $ 380,416 Capital expenditures 93,939 89,466 75,904 Dividends 85,592 85,592 83,166 Required Calculate the following liquidity ratios for Metro Eagle in 2021 and 2022: 1. Inventory turnover. 2. Current ratio. 3. Quick ratio. 4. Cash flow ratio