PNG Company Comparative Balance Sheets Use the following comparative balance sheets, income statement, and additional information to answer questions (1) through (5).

PNG CompanyComparative Balance SheetsFor the year ended December 31 20X120X0Current assets Cash$157,000$105,000Accounts receivable49,00062,000Inventory53,70036,100Prepaid rent11,4008,300Total current assets$271,100$211,400Long-term assets Investment in bonds$30,000$14,800Land216,300184,200Equipment (net)114,500137,900Total long-term assets$360,800$336,900Total assets$631,900$548,300 Current liabilities Accounts payable$61,300$52,700Interest payable4,9008,500Income tax payable15,40012,600Total current liabilities$81,600$73,800Long-term liabilities Bonds payable$173,800$205,400Stockholders' equity Common stock$183,500$165,200Retained earnings193,000103,900Total liabilities and equity$631,900$548,300PNG CompanyIncome StatementFor the year ended December 31, 20X1Revenues Sales revenue$2,380,000Cost of goods sold1,240,000Gross profit$1,140,000Expenses Operating expenses$899,600Depreciation expense23,400Interest expense19,000Income tax expense61,000Total expenses$1,003,000Net income$137,000

Additional Information for PNG Co. in 20X1: 1. All sales were on account. 2. Earnings per share were $2.00. 3. The closing stock price on 12/31/X1 was $15.40. 4. PNG had 68,500 of its only class of (common) stock outstanding on 12/31/X1.

1. What was PNG Company's current ratio for the year 20X1?

7.74

3.32

2.47

2.66

2. What was PNG Company's debt to equity ratio for the year 20X1?

0.22

0.46

1.39

0.68

3. What was PNG Company's inventory turnover for the year 20X1?

5.30 times

27.62 times

34.35 times

3.05 times

4. What was PNG Company's return on equity for the year 20X1?

36.39%

74.66%

42.44%

274.82%

5. What was PNG Company's profit margin for the year 20X1?

12.02%

5.76%

36.39%

2.80%