ody. Novak Corporation Balance Sheets December 31 2020 Cash $ 32,000 Accounts receivable (net) 52,000 Other current assets 93.000 Investments 58,000 Plant and equipment (net) 500.000 $735,000 Current liabilities $ 87.000 Longterm debt 148,000 Common stock. $10 par 323,000 Retained earnings 177.000 $735,000 2019 $ 22,000 47.000 98,000 73,000 370,000 $610.000 2018 $ 20,000 50,000 67,000 48,000 358,000 $543,000 $ 72.000 $ 82,000 88,000 313,000 127.000 53,000 303,000 115,000 $610,000 $543,000 2019 $603,000 32,000 Novak Corporation Income Statements For the Years Ended December 31 2020 Sales revenue $743,000 Less: Sales returns and allowances 42.000 Net sales 701,000 Cost of goods sold 428,000 Gross profit 273,000 Operating expenses (including income 182,000 taxes) Net income $ 91,000 571,000 353,000 218,000 152,000 $ 66,000 Additional information: 1. The market price of Novak's common stock was $7.00, $7.50, and $2.50 for 2018, 2019, and 2020, respectively. You must compute dividends paid. All dividends were paid in cash. 2. (a) Compute the following ratios for 2019 and 2020. (Round answers to 2 decimal places, e. 2020 2019 Profit margin % % Gross profit rate % % Asset turnover times times Earnings per share $ $ Price-earnings ratio times times Payout ratio % % Debt to assets ratio % % Click if you would like to Show Work for this question: Open Show Work