Problem 18-04A a-b The following financial information is for Priscoll Company. Priscoll Company Balance Sheets December 31 Assets 2020 2019 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 $ 70,700 55,550 105,040 232,300 25,250 131,300 262,600 $882,740 $ 65,650 40,400 90,900 166,650 23,230 131,300 186,850 $704,980 $171,700 65,650 40,400 252,500 202,000 150,490 $882,740 $121,200 52,520 40,400 171,700 202,000 117,160 $704,980 Total liabilities and stockholders' equity Priscoll Company Income Statement For the Years Ended December 31, 2020 2019 Sales revenue Cost of goods sold Gross profit Operating expenses Net income $890,820 646,400 244,420 191,900 $ 52,520 $797,900 580,750 217,150 168,670 $ 48,480 Additional information: 1. Inventory at the beginning of 2019 was $116,150. Accounts receivable (net) at the beginning of 2019 were $86,860. Total assets at the beginning of 2019 were $666,600. No common stock transactions occurred during 2019 or 2020. 5. All sales were on account. Indicate, by using ratios, the change in lianidity and ELLE All sales were on account Indicate, by using ratios, the change in liquidity and profitability of Priscoll Company from 2019 to 2020. (Round Current ratio, Asset turnover and Earnings per share to 2 decimal places, eg. 1.65, and all other answers to 1 decimal place .. 6.8 or 6.8%) 2019 2020 LIQUIDITY Current ratio Accounts receivable turnover times Inventory turnover PROFITABILITY Profit margin Attrave Return on assets Earnings per share The following are three independent situations and a ratio that may be affected. For each situation, compute the affected ratio (1) as of December 31, 2020, and (2) as of December 31, 2021, after giving effect to the situation. (Round debt to assets ratio to o decimal place 15 and other answers to I decimal place, .. 6.8 or 6.8 .) Situation (1) 18,180 shares of common stock were sold at par on July 1, 2021. Net income for 2021 was $54.540 Return on common stockholders egy Debt to assets ratio (2) All of the tots payable were paid in 2021. All other t es remained at the December 31, 2020, levels. At December 31, 2021, total assets were 1909,000 (3) The market price of common stock was $9 and $12 on December 31, 2020 and 2021, respectively. Net Income for 2021 was $54,540. Price carming ratio 2020 2021 Futumn on common stockholders' equily Debt to ts ratio Price ca r oti