Question#02 The condensed financial statements of John Cully Company, for the years ended June 30, 2012 and 2011, are presented below John Cully Company Balance Sheets June 30 (in thousands) 2019 Particulars 2020 Assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses and other current assets Property, plant, and equipment (net) Investments Intangibles and other assets 553.3 776.6 768.3 204.4 694.2 12.3 876.7 611.6 664.9 653.5 269.2 647.0 12.6 849.3 3.885.8 3,708.1 Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Stockholders' equitycommon Total liabilities and stockholders' equity 1,497.7 679.5 1,708.6 3.885.8 1,322.0 637.1 1,749.0 3,708.1 John Cully Company Income Statements For the Year Ended June 30 2020 6,336.3 (in thousands) 2019 5,790.4 Particulars Sales revenue Costs and expenses Cost of goods sold Selling and administrative expenses Interest expense Total costs and expenses Income before income taxes Income tax expense Net income 1,617.4 4,007.6 13.9 5,638.9 697.4 291.3 406.1 1,476.3 3,679.0 27.1 5,182.4 608.0 232.6 375.4 Instructions: (f) Profit margin Compute the following ratios for 2020- (a) Current ratio (b) Acid-test ratio (c) Inventory turnover (d) Receivables turnover (g) Assets turnover. (h) Return on common stockholders' equity (i) Debt to total assets () Times interest earned. (e) Return on assets