Question 1 (20 marks) Condensed balance sheet and income statement data for ABC Corporation are as below. ABC Corporation Balance Sheet December 31 Accounts receivable in Other current Investment Plantandement 2020 2019 2018 $ 25,000 $20,000 5 18.000 50.000 45.000.000 9000 95.00 64.000 75.000 70.000 45.000 400,000 370.000 35 000 S.n.conno 100 Current liabilities Long-term de Common stock, Sio Retained caming $75,000 S OS 70,000 30,000 spod 50.000 40.000 310.000.000 65.00 125.000 13.00 5640.000 $600.000 ABC Corporation Income Statement For the Year Ended December 31 2020 2019 5740,000 $700.000 40.000 SLO 700,000 50.000 420.00 400.000 280,000 250.000 Sales revenue Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Operating syntes including income taxes. E. FR, Net income S45.000 3000 Additional information: 1. The market price of ABC Corporation's common stock was $4.00, $5.00, and 58.00 for 2018, 2019 and 2020, respectively. 2. All dividends were paid in cash. Required Compute the following ratios for 2019 and 2020. c.) Profit margin. (2) Asset turnover. c) Earnings per share. (Weighted-average common shares in 2020 were 32,000 and in 2019 were 31,000.) 14 Price-carnings ratio - Payout ratio. (Debt to assets ratio (12 marks) (b) Based on the ratios calculated, discuss briefly the company's performance in terms of financial position and operating results from 2019 to 2020 of ABC Corporation (8 marks)