Ratios Compared with Industry Averages Because you own the common stock of Jacob Corporation, a paper manufacturer, you decide to analyze the firm's performance for the most recent year. The following data are taken from the firm's latest annual report: Dec 31, 2019 Dec 31, 2018 Quick assets $700,000 $552.000 Inventory and prepaid expenses 372,000 312.000 Other assets 4.788.000 4,200,000 Total Assets $5,860,000 $5,064.000 Current liabilities $724,000 $564.000 10% Bonds payable 1,440,000 1,440.000 896 Preferred stock $100 par value 480,000 480,000 Common stock, $10 par value 2,700,000 2,160,000 Retained earnings 516,000 420,000 Total Liabilities and Stockholders' Equity 55,860,000 $5,064,000 For 2019, net sales amount to $12,500,000, net income is $550,000, and preferred stock dividends paid are $50,000. Required Calculate the following ratios for 2019. Round answers to two decimal places. 1. Return on sales 0 x % 2. Return on assets 0 * % 3. Return on common stockholders' equity 4. Quick ratio 5. Current ratio 6. Debt-to-equity ratio