Problem: The financial statements of Muscat Company appear below: MUSCAT COMPANY Comparative Balance Sheet December 31, Assets 2022 Cash Short-term investments. Accounts receivable (net).. Inventory... Property, plant and equipment (net). Total assets Liabilities and stockholders' equity Accounts payable... Short-term notes payable... Bonds payable Common stock. Retained earnings. Total liabilities and stockholders' equity... Net sales. Cost of goods sold.. MUSCAT COMPANY Income Statement For the Year Ended December 31, 2023 Gross profit Expenses Operating expenses. Interest expense.... Total expenses.. Income before income taxes. Income tax expense. 2023 $ 25,000 $ 40,000 15,000 60,000 50,000 30,000 50,000 70,000 260,000 300,000 $400,000 $500,000 $ 20,000 $ 30,000 30,000 90,000 90,000 160,000 150,000 150,000 110,000 70,000 $400,000 $500,000 $400,000 240,000 160,000 $42,000 18,000 60,000 100,000 30,000 $ 70,000 Net income. Additional information: a. Cash dividends of $23,000 were declared and paid in 2023. b. C. Weighted-average number of shares of common stock outstanding during 2022 was 30,000 shares. Market value of common stock on December 31, 2023, is $21 per share. Instructions Using the financial statements and additional information, compute the following ratios for Muscat Company for 2023. Show all computations. Calculate: 1. Current ratio 2. Return on common stockholders' equity 3. Price-earnings ratio 4. Acid-test ratio 5. Receivables turnover 6. Times interest earned 7. Profit margin 8. Days in inventory 9. Payout ratio 10. Return on assets