Parker Corporation is a machinery manufacturing company located in Morganton, NC, USA. The company's management wanted to evaluate their financial performance by applying key financial ratios. a) Using the latest financial statements (Table 1) calculate the following performance measures: (0.5 pts each) 1. Current ratio 2. Quick ratio 3. Days' sales in receivables 4- Total asset turnover 5- Debt ratio 6- ROE 7. Price-earnings ratio I Table 1: Financial Statements Parker Corporation Financial Statements For the year ended December 31, 2019 Balance Sheet Income Statement Assets: Cash $184,000 Sales $7,200,000 Accounts receivable 320,000 Cost of goods sold (3,640,000) Inventory 440,000 Operating expense (2.520,000) Net fixed assets 1,800,000 Operating profit 1,040,000 Total assets $2,744,000 Interest expense (160,000) Income taxes (344.000) Liabilities and owners' equity: Net income $536,000 Accounts payable $160,000 Long-term Notes payable 360,000 Long-term debt 864,000 Owners' Equity 1,360.000 Total liabilities and owner's equity $2,744.000 Earnings Per Share 1.76 Market price per share - 25 Table 2: Industry Average Industry Average 6.4 x 3.80 x Ratio Current Ratio Quick Ratio Days' Sales in Receivables Total asset turnover Debt Ratio 14 Days 2.85 x 60% ROE 45.33% Price-earnings ratio 13.9 x