Peace Corporation reported these figures (Click the icon to view the balance shoot) Click the foon to view the income statement.) Peace Corporation has 2,500,000 shares of common stock outstanding. Its stock has traded recently at $30.80 per share. You would like to gain a better understanding of Peace Corporation's financial position. Assume all sales are on credit, Read the requirement a. Inventory turnover Enter the formula on the first line, then calculate the inventory turnover on the next line. (Enter amounts in thousands as provided to you in the problem statement Round your answer to one decimal place.) Cost of goods sold Average inventory Inventory turnover Balance sheet A B 1 Peace Corporation 2 Balance Sheets 3 December 31, 2020 and 2019 (amounts in thousands) 4 5 2020 2019 6 Assets 7 Current assets: 8 Cash $ $ 3,575 $ 2,400 9 Accounts receivables 2,200 1,980 10 Inventory 1,200 800 11 Other current assets 2,790 3,020 12 Total current assets $ 9,765 $ 8,200 13 Other assets 19,000 17,000 14 Total assets $ 28,765 $ 25,200 Print Done Clear an Balance sheet TACCOUNTS TCGOIVODICS TUU 10 Inventory 1,200 800 11 Other current assets 2,790 3,020 12 Total current assets $ $ 9,765 $ 8,200 13 Other assets 19,000 17,000 14 Total assets $ 28,765 $ 25,200 15 16 Liabilities 17 Total current liabilities CA $ 10,500 $ 9,000 18 Long-term liabilities 6,265 19 Total liabilities 8,200 17,200 $ 16,765 $ 20 21 Stockholders' equity 22 Total common stockholders' equity 12,000 8,000 23 24 Total liabilities and equity $ 28,765 $ 25,200 Income statement con um B 1 Peace Corporation 2 Income Statement 3 For the Year Ended December 31, 2020 ate 4 4 (amounts in thousands) 5 2020 werd $ 13,870 2,400 $ 11,470 6 Sales revenues 7 Less: Cost of goods sold 8 Gross profit 9 Less: Operating expenses 10 Operating income 11 Less: Interest expense 470 GA $ 11,000 500 12 Income before income taxes $ 10,500 13 Less: Income tax expense 8,300 14 Net income $ 2,200 Print Done Requirement Calculate the following ratios for 2020 and interpret the results: a. Inventory turnover b. Days' sales in receivables c. Acid-test ratio d. Times-interest-earned e. Gross profit percentage f. Operating income percentage g. Return on stockholders' equity h. Earnings per share 1. Price/earnings ratio Print Done