PART B: At the beginning of 2020, the Buckeye Corporation added a new product line to its production and sales. Buckeye's Balance Sheet and Income Statement are provided in the "Homework 4 Student Workbook" in the worksheet titled Part B Financials." Required: Calculate the following ratios for both 2020 and 2019. Do not retype the amounts used in the ratios (instead refer to the appropriate cells from the provided balance sheet and income statement). Round your answers to 3 decimal places. In 2-3 sentences each, discuss your interpretation of the change in each ratio across the two years, considering the addition of a new product line. Put your answers in the worksheet titled Part B Answer. Use a separate textbox for your discussion of the change in each ratio. a. Total Asset Turnover (Net Sales/Average Total Assets) b. Gross Profit Margin (Gross Profit/Net Sales) c. Net Profit Margin (Net Income/Net Sales) d. Return on Assets (ROA) (Net Income/Average Total Assets) Total assets were $940,000 on December 31, 2018. 2020 2019 Assets Current Assets: Cash Accounts Receivable nventory Supplies Prepaid Rent Total Current Assets Property, Plant and Equipment: Equipment Less: Accumulated Depreciation Property, Plant and Equipment, net Total Assets $430,370 27,760 310,400 71,494 18,350 858,374 $380,750 68,400 223,860 55,724 11,492 740,226 376,540 37,010 339,530 $1,197,904 300,690 33,528 267,162 $1,007,388 Liabilities and Stockholders' Equity Current Liabilities: Accounts Payable Jnearned Revenue ncome Taxes Payable Total Current Liabilities Long-term Debt Total Liabilities Stockholders' Equity Contributed Capital Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 47,895 41,400 1,589 90,884 361,798 452,682 39,655 32,755 2,933 75,343 333,576 408,919 375,250 369,972 745,222 $1,197,904 299,500 298,969 598,469 $1,007,388 Net Sales 2020 $1,000,725 547,349 453,376 2019 $877,435 489,392 388,043 Cost of Sales Gross Profit Salaries and Wages Expense Rent Expense Depreciation Expense Other Operating Expenses Operating costs and Expenses Operating Income 91,344 33,600 25,586 31,356 181,886 271,490 86,743 24,800 21,568 24,577 157,688 230,355 Interest Income Interest Expense Income before Taxes Income Tax Expense Net Income 774 448 271,816 19,451 $252,365 393 567 230,181 10,454 $219,727