Question #2 (45 pts) Part A. Booker Corporation had the following comparative current assets and current liabilities: Dec. 31, 2020 Dec 31, 2019 Current assets Cash $ 60.000 $ 30,000 Short-term investments 40,000 10,000 Accounts receivable 55,000 95,000 Inventory 110,000 90,000 35,000 $300,000 20.000 $245,000 Prepaid expenses Total current assets Current liabilities Accounts payable Salaries payable Income tax payable Total current liabilities $140,000 $110,000 40,000 30,000 20.000 $ 200,000 15,000 $ 155,000 During 2020, credit sales and cost of goods sold were $750,000 and $400,000, respectively. During 2020, credit sales and cost of goods sold were $750,000 and $400,000, respectively. Instructions Compute the following liquidity measures for 2020: 1. Current ratio. 2. Working capital 3. Acid-test ratio. 4. Accounts receivable turnover. 5. Inventory turnover. Part B. Selected data from Decce Company are presented below: Total assets $1,600,000 Average assets 2,000,000 Net income 380,000 Net sales 1,500,000 Average common stockholders' equity 1,000,000 Instructions Calculate the following profitability ratios from the above information. 1. Profit margin 2 Asset tumover. 3. Return on assets. 4. Return on common stockholders' equity