Parks Trading Corporation Balance Sheets March 31, 2021 & 2020 2021 2020 Assets Cash 235,445 123,215 Accounts Receivable (net) 117,000 114,000 Inventory 125,450 120,000 Prepaid Expenses 4,000 4,450 Total Current Assets 481,895 361,665 Equipment 494,250 299,935 Accumulated Depreciation (244,350) 117,855) Net Fixed Assets 249,900 182,080 Goodwill 300,000 300,000 Total Assets 1,031,795 in 843,745 Liabilities & Stockholders' Equity Accounts Payable S 223,000 234,000 Accrued Expenses 123,000 122,500 Rent Payable 3,450 3,245 Total Current Liabilities 349,450 359,745 Bonds Payable 334,000 234,000 Total Liabilities 683,450 593,745 Common Stock 126,000 112,000 Retained Earnings 222,345 138,000 Total Stockholders' Equity 348,345 250,000 Total Liabilities & Equity in 1,031,795 $ 843,745Parks Trading Corporation Parks Trading Corporation Income Statement Statement of Retained Earnings For the Fiscal Year Ended For the Fiscal Year Ended March 31, 2021 March 31, 2021 Net Sales (all sales on account) 5 1,280,000 Beginning Retalned Earnings Costs of Goods Sold 657,003! March 31. 2020 Gross Margin 623,000 Expenses Net income Salaries Expense 350,000 Rent Expense 36,011) Subtotal Repairs and Maintenance 4,570 Supplies Expense 1,200 Dividends Ofce Expense 45.600 Income Tax Expense 65.100 Ending Retained Earnings Tow Expenses 502,470 March 31. 2021 Net income 5 120.530 5 _ h Additional Information: 1. All depreciation expense is included in Costs of Goods Sold. 2. In 2021 The Company sold for $15,315 in cash some equipment which originally cost $17,250. The Accumulated Depreciation of this equipment was $750 at the time of sale. 14. Calculate the Current Ratio for 2021. 5 0; 15. Calculate the Current Ratio for 2020. 16. Did The Company' 5 current ratio improve or decline in 2021 from 2020? 17. Calculate Working Capital for 2021. 18. Calculate Working Capital for 2020. 19. Did The Company's Working Capital improve or decline in 2021 from 2020? 20. Calculate the Accounts Receivable Turnover for 2021. 21. Calculate the average collection period (Days in A/ R) for 2021. 22. Calculate the Inventory Turnover for 2021. 23. Calculate the average sales period (days in Inventory) for 2021. 24. Calculate the Operating Cycle for 2021. 25. Calculate Return on Assets for 2021 (ignore tax rates). 26. Calculate Return on Owner' 5 Equity for 2021 (ignore tax rates). 27. Prepare and present properly formatted \"Common Size" comparative Balance Sheets for March 31, 2021 and March 31, 2020. 28. Prepare and present a property formatted \"Common Size\" income Statement for the Fiscal Year Ended March 31, 2021. 29. Prepare and present a properly formatted Statement of Cash Flow for the Fiscal Year Ended March 31, 2021