Selected comparative statement data for Zippo Products Company are presented below. All balance sheet data are as at December 31. 2021 2020 Net sales $800,000 Cost of goods sold 480,000 Interest expense 7,000 Net income 60,000 Accounts receivable 120,000 100,000 Inventory 85,000 75,000 Total assets 600,000 500,000 Total common stockholders' equity 430,000 320,000 In the year 2021, the average selling price per unit has been increased from $200 to $210. On May 2021, the company issued shares of $100,000 at par. The proceeds were used to pay off bank loans outstanding. Average period given by Zippo Products Company to its customers: 40 days. The ratios of Zippo Products Company for year 2020 are: Profit margin. 7.35% Asset turnover. 1.8333 Return on assets. 13.5% Return on common stockholders' equity. 18% Average collection period 41 days Days in inventories 45 days Debt to assets ratio 34.25% Times interest earned 8.85 Requirements: (1) Compute the following ratios for 2021: (a) Profit margin. (b) Asset turnover. (c) Return on assets. (d) Return on common stockholders' equity. (e) Average collection period (f) Days in inventories (g) Debt to assets ratio (h) Times interest earned. (8 marks) (2) Based upon the answer to (1) above, compare and analyse the performance of the company in year 2021 versus the previous year, in term of (a) Profitability (6 marks) (b) Liquidity (3 marks) (c ) Solvency