Priscoll Company Balance Sheets December 31 Assets 2020 2019 $ 93,100 73,150 138,320 305,900 33,250 172,900 345,800 $1,162,420 $ 86,450 53,200 119,700 219,450 30,590 172,900 246,050 $928,340 Cash Debt investments (short-term) Accounts receivable Inventory Prepaid expenses Land Building and equipment (net) Total assets Liabilities and Stockholders' Equity Notes payable (short-term) Accounts payable Accrued liabilities Bonds payable, due 2023 Common stock, $10 par Retained earnings Total liabilities and stockholders' equity $226,100 86,450 53,200 332,500 266,000 198,170 $1,162,420 $159,600 69,160 53,200 226,100 266,000 154,280 $928,340 Priscoll Company Priscoll Company Income Statement For the Years Ended December 31 2020 2019 Sales revenue Cost of goods sold Gross profit Operating expenses Net income $1,173,060 851,200 321,860 252,700 $ 69,160 $1,050,700 764,750 285,950 222,110 $ 63,840 Additional information: 1. 2. 3. Inventory at the beginning of 2019 was $152,950. Accounts receivable (net) at the beginning of 2019 were $114,380. Total assets at the beginning of 2019 were $877,800. No common stock transactions occurred during 2019 or 2020. All sales were on account. 4. 5. Indicate, by using ratios, the change in liquidity and profitability of Priscoll Company from 2019 to 2020. (Round Current rates, Asset turnover and Far per share to decimal places, eg. 1.65, and all other answers to 1 decimal place... 6.8 6.896) 2019 2020 LIQUIDITY Current ratio 1.81 11 1.7601 Accounts receivable turnover times times times times Invertory turnover PROFITABILITY Profit margin 50 Asset turnover times times Return on assets 96 Earnings per share 5 $ By accessing this Question Assistance, you will learn while you can points based on the point Potential oily set by your instruction