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1) Condensed financial data of Manatee Inc. appears below. Manatee Inc. Comparative Balance Sheet December 31 2020 2019 Assets Current Assets: Cash $71,000 $45,000 Accounts Receivables (net) 44,000 62,000 Short-Term Investment 25,000 18,000 Inventories 144,450 124,000 Prepaid Insurance 15,280 21,000 Total Current Assets 299.730 270.000 Property Plant & Equipment Land 105,000 130,000 Equipment 173,000 120,000 Building 200,000 200,000 Total Assets 777,730 720,000 Liabilities & Stockholder's Equity Current Liabilities: Accounts Payable $96,730 $82,000 Income Tax Payable 19,000 15,000 Total Current Liabilities 115.730 97.000 Long-Term Liabilities: Bond Payable $260,000 $300,000 Total Liabilities 375.730 397.000 Stockholders' Equity: Common Stock ($5 par) $200,000 $160,000 Retained Earnings 202,000 163,000 Total Stockholder's Equity 402.000 323.000Total Stockholder's Equity Total Liabilities and Stockholders' Equity $777,730 $720,000 Manatee Inc. Income Statement For the year ended December 31, 2020 Net Sales (75% on account) $549,000 Less: Cost of Goods Sold 348,000 Operating Expenses excluding depreciation 84,000 Depreciation Expense 30,500 Interest Expense 6,000 Income Taxes 14,000 Gain on Sale of Plant Assets 5,500 Net Income $61,000 Additional Information: 1. Equipment was purchased for $100,000 cash. In addition, equipment costing $47,000 was sold for $22,000 cash. 2. Land was sold for cash at book value. 3. Bond matured and paid off at face value of cash. 4. Cash dividend was paid in the year 2020. Instructions: a) Prepare a statement of cash flows using the indirect method. (13) b) Compute the following ratios for 2020 and interpret them. (15) I. Asset turnover II Return on common stockholders' equity III. Days in inventory IV. Times interest earned V. EPS