Q2: Ratio Analysis (2 marks) The year 2020 balance sheet for the Tomassini Corporation is shown below. Tomassini Corporation Balance Sheet December 31, 2020 Assets: ($ in 000s) Cash $ 150 Accounts receivable 400 Inventories...... 500 Property, plant, and equipment (net)....... 1,200 Total assets. $2.250 Liabilities and Shareholders' Equity: Current liabilities. $ 600 Long-term liabilities. 500 Paid-in capital. 1,000 Retained earnings. 150 $2.250 Total liabilities and shareholders' equity The company's 2020 income statement reported the following amounts ($ in thousands): Net sales Interest expense Income tax expense Net income Required: Determine the following ratios for 2020: a. current ratio b. acid-test ratio c. debt to equity ratio d. times interest earned ratio $6,600 30 200 260