please solve them/ tell me what how to solve them such as what was subtracted/added/divided/or multiplied. I am confused and genuinely want to learn what is done to get the answers for a-h. thank you!

Homework III Calculate the ratios using the information given in the below financial statements. (20 points) 2001 2002 Balance Sheet Assets Current assets: Cash Accounts receivable Inventories Total current assets 49,000 5,000 151,000 205,000 18,000 32,000 112,000 162,000 Fixed assets: Land Buildings & equipment Total fixed assets 250,000 350,000 600,000 250,000 500,000 750,000 Other investments: Cash value of life insurance Investment in other firms Investment in subsidiary Total other 6,400 24,400 75,000 105,800 6,600 24,400 75,000 106,000 Total assets 910,800 1,018,000 Liabilities & Owner's Equity Current liabilities: Accounts payable Taxes payable Installment on L-T debt Total current liabilities 20,000 1,500 20,000 41,500 49,000 1,700 35,200 85,900 Non-current liabilities: L-T notes payable Total liabilities 301,600 343,100 328,100 414,000 Owner's equity: Capital stock Retained earnings, Jan 1 Retained earnings, Dec 31 Total owner's equity 390,500 147,200 30,000 567,700 390,500 177,200 36,300 604,000 Total liabilities & equity 910,800 1,018,000 Income Statement 2001 2002 1,250,000 1,465,000 Revenue from sales Less: Cost of goods sold: Inventory, Jan 1 Goods purchased Goods available for sale Inventory, Dec 31 Cost of goods sold Gross margin 100,000 1,077,000 1,177,000 151,000 1,026,000 224,000 151,000 1,105,000 1,256,000 127,000 1,129,000 336,000 Less: Operating expenses Salaries & wages 100,000 144,000 Office expenses 1,000 3,400 Selling & promotion 38,000 72,000 Utilities & fuel 30,000 44,600 Interest expenses 4,000 5,000 Depreciation 15,000 22,000 Total operating expenses 188,000 291,000 Income before taxes 36,000 45,000 Less: Income taxes 6,000 8,700 Net income (retained earnings) 30,000 36,300 1. Calculate the following ratios (using information from above tables) for years 2001 and 2002 and interpret the change. a. b. c. Current Ratio Quick Ratio Debt to Equity Ratio d. Debt to Asset Ratio e Inventory Turnover Ratio f. Return on Assets Ratio & Return on Owner's Equity Ratio h. Gross Margin Ratio Eg: Current Ratio (CR) - Total Current Assets/Total Current Liabilities. IN 2001: CR = 205,000 / 41,500 = 4.94 IN 2002: CR = 162,000 / 85,900 = 1.89 The firm is worse off in terms of Current Ratio in 2002