Majama Inc. Balance sheet 31-Dec 2020 2019 Assets Cash Receivables Merchandise Inventory Property, Plant, Equipment Accumulated Depreciation Total assets $ 652,000 $ 384,000 208,000 152,000 136,000 176,000 1,152,000 952,000 392,000 264,000 $ 1,756,000 $ 1,400,000 Liabilities and equity Accounts Payable Wages Payable Long-term notes payable Common shares Retained earnings (NOTE 1) Total liabilities and equity 248,000 312,000 56,000 32,000 152,000 200,000 248,000 40,000 1,052,000 816,000 $ 1,756,000 $ 1,400,000 Majama Inc. Income statement For year ended 12/31/2019 $ 3,136,000 Revenues: Sales Expenses and other: Cost of goods sold Other expenses Depreciation expense Total expenses and other Profit $ 1,916,000 776,000 128,000 2,820,000 316,000 $ NOTE 1. Cash dividends of $80000 were paid REQUIRED: Prepare a statement of cash flows in proper format using the paper provided. Using the numbers from Question, for the year 2020, calculate the following: 1. Quick ratio 2. Account receivables turnover 3 Days sales in inventory 4 Return on total assets PART B State whether the company is doing better or worse when compared to the following industry averages 1. Quick ratio - 2:1 2. Accounts receivables turnover - 15 times 3. Days sales in inventory - 23 days 4. Return on total assets -15% PART C Which ratios would a short-term creditor be most interested in and why? Answer below