Selected information from the comparative financial statements of Iceberg Company for the year ended December 31, appears below: 2020 2019 Accounts receivable (net) $ 200,000 $180,000 Inventory 160,000 140,000 Current assets 500.000 400,000 Total assets 1,200,000 800,000 Current liabilities 140,000 110,000 Long-term debt 400,000 300,000 Net credit sales 1,330,000 700,000 Cost of goods sold 900,000 530,000 Interest expense 50,000 25,000 Income tax expense 60,000 29,000 Net income 120,000 75,000 Instructions Compute the following ratios relating to the year ended December 31, 2020. Show computations! 1. Current ratio 2. Inventory turnover and Receivables turnover 3. Times interest earned and Debt to total assets ratio 4. Return on assets