please explain how to answer these ratio accounting question for studying purposes. it will be very helpful

BE SURE YOUR CALCULATOR IS SET TO AT LEAST 4 DIGITS PAST THE DECIMAL! (2nd Format, 4. Enter) Bobkat Enterprises, Inc. Income Statement For the Year Ended December 31, 2020 Sales $900,000 Cost of Goods Sold 400,000 Gross Margin $500,000 Operating Expenses Wage Expense $250,000 Rent Expense 36,000 Depreciation Expense 30,000 Bad Debt Expense 18,000 Total Operating Expenses $334,000 Operating Income $166,000 Other Revenues & (Expenses) Interest Expense (16,000) Taxable income $150,000 Tax Expense 45,000 Net Income $ 105,000 EPS $5.60 BobKat Enterprises, Inc. Balance Sheet December 31, 2020 2019 2020 2019 Assets Current Assets Cash $140,000 $ 170,000 Accounts Receivable 80,000 85,000 Less: Allowance for Doubtful Accounts (10.000) (5.000) Net Accounts Receivable 70,000 80,000 Inventory 90.000 70.000 Total Current Assets 300.000 320,000 Liabilities Current Liabilities Accounts Payable Wages payable Interest Payable Taxes Payable Total Current Liabilities $ 78,000 $ 149,000 9,000 8,000 3,000 5,000 12.000 10.000 102,000 172,000 Property and Equipment Equipment 420,000 340,000 Less: Accumulated Depreciation (190.000) (60.000) Net Property & Equipment 330.000 280,000 Other Assets Security Deposit 10.000 10,000 Total Assets $ 640,000 $ 610,000 Long-Term Debt Note Payable 100.000 100.000 Total Liabilities 202.000 272.000 Owners' Equity Common Stock ($1 per share) 60,000 50,000 Retained Earnings 378,000 288.000 Total Owners' Equity 438.000 338.000 Total Liabilities and Owners' Equity $ 640,000 $ 610.000 The common stock was sold on September 30, 2020. The Note Payable is interest only at 10% and will be paid in 2020. The company did not sell any equipment during the year. The retained earnings balance for both years is after all closing entries have been made. At December 31, 2020, the current ratio was approximately O 3.56 0 2.94 O 6.27 O 1.86 O some other number For 2020, the return on assets was approximately O 22.58% O 33.87% O 16.80% O 16.41% O some other number At December 31, 2020, the stock price was $112 per share. The Price Earnings Ratio was approximately 26 40 20 10 None of the above At December 31, 2020, the inventory turn was approximately O 4.44 O 5.00 O 5.71 O 10.00 O 11.25 At December 31, 2020, the Debt to Equity Ratio was approximately O 22.83% O 37.92% O 46.12% O 31.56 % None of the above At December 31, 2020, the acid test (quick) ratio was approximately 3.56 2.06 2.10 1.86 some other number At December 31, 2020 the book value per share was approximately O $ 7.30 O $ 6.30 O $ 7.52 O $ 10.00 some other number For 2020, return on equity was approximately O 27.06% O 31.53% O 23.97% O 16.41% some other number How much in dividends did the company pay during the year? O $-0- O $ 15,000 O $ 20,000 O $ 30,000 O Unable to determine from information given