Presented below is information related to Tamarisk Inc. $110,000 14,900 Cash Receivables Less: Allowance Inventory Prepaid insurance Land Equipment (net) TAMARISK INC. BALANCE SHEET DECEMBER 31, 2020 $45,100 Notes payable (short-term) Accounts payable 95,100 Accrued liabilities 171,500 Common stock (par $5) 7,900 Retained earnings 20,200 149,000 $488,800 $50,100 31,900 5,000 258,700 143,100 $488,800 TAMARISK INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $1,402,700 Cost of goods sold Inventory, Jan 1, 2020 $199,300 Purchases 794,000 Cost of goods available for sale 993,300 Inventory, Dec 31, 2020 (171.500) Cost of goods sold 821,800 Gross profit on sales 580.900 Cost of goods sold Gross profit on sales Operating expenses Net income 821,800 580,900 169,400 $411,500 (a) Compute the following ratios or relationships of Tamarisk Inc. Assume that the ending account balances are representative unless the information provided indicates differently (Round answers to 2 decimal places, eg. 1.59 or 45.87%) Current ratio times (2) Inventory turnover times (3) times Accounts receivable turnover Earnings per share $ 15) 3 Profit margin on sales 16 Return on assets on December 31, 2020