Presented below is information related to Shamrock Inc. Cash Receivables Less: Allowance Inventory Prepaid insurance Land Equipment (net) SHAMROCK INC. BALANCE SHEET DECEMBER 31, 2020 $45,000 Notes payable (short-term) $110,800 Accounts payable 15,000 95,800 Accrued liabilities 170,800 Common stock (par $5) 8,100 Retained earnings 19,800 148,500 $488,000 $49,900 32,100 4,900 259,600 141,500 $488,000 SHAMROCK INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $1,403,000 Cost of goods sold Inventory, Jan. 1, 2020 $200,000 Purchases 786,700 Cost of goods available for sale 986,700 Inventory, Dec. 31, 2020 (170,800) Cost of goods sold 815,900 Gross profit on sales 587,100 Operating expenses 168,700 Net income $418,400 Compute the following ratios or relationships of Shamrock Inc. Assume that the ending account balances are representative unless the information provided indicates differently. (Round answers to 2 decimal places, e.g. 1.59 or 45.87%) (1) Current ratio times (2) Inventory turnover times (3) Accounts receivable turnover times (4) Earnings per share (5) Profit margin on sales (6) Return on assets on December 31, 2020 e Textbook and Media Indicate for each of the following transactions whether the transaction would improve, weaken, or have no effect on the current ratio of Shamrock Inc. at December 31, 2020. (1) Write off an uncollectible account receivable, $2,200. (2) Purchase additional capital stock for cash. (3) Pay $40,000 on notes payable (short-term). (4) Collect $23,000 on accounts receivable. (5) Buy equipment on account. (6) Give an existing creditor a short-term note in settlement of account