Step 1 Step2 Step 3 Nabisco Company's yearend balance sheets follow. Express the balance sheets in commonsize percents. Round amounts to the nearest one tenth of a percent. Analyze and comment on the results. At December 31 Assets Cash .9 35 229 $ 42 230 $ 44552 Accounts receivable, net 105 023 25 322 52082 Merchandise inventory 132408 98929 52 038 Prepaid expenses 11548 11003 4903 Plant assets, net 335 312' 311062 222 2'10 Total assets S. 525525 $540 151 $441 300 Liabilities and Equity Accounts payable 5 152522 5 94024 5 52082 Longterm notes payable secured by mortgages on plant assets 115 518 122952 99 428 Common stock, 510 par value 153 500 153 500 153 500 Retained earnings 188880 154 555 121 235 Totolobities and equity 5 525525 S540 151 $441 300 Refer to Nabisco Company's balance sheets in Step 1. Analye its yearend shortterm liquidity position at the end of 2020, 2019, and 2018 by computing {1} the current ratio and {2} the acid-test ratio. Comment on the ratio results. {Round ratio amounts to two decimals.} Refer to the Nabisco Company information in Step 1 above. The company's income statements for the years ended December 31, 2020 and 2019, follow. Assume that all sales are on credit and then compute for both years: {1} days' sales uncollected, {2} accounts receivable turnover, {3} inventory turnover, and {4} days' sales in inventory. Comment on the changes in the ratios. {Round amounts to one decimal.} At December '31 n_l__ H rru- nnn a mun"... At December 31 2020 2019 Sales S 585 00-0 5 55200-0 Cost ofgoods sold 5 412850 5 355255 Other operating expenses 20? 282 141971 Interest expense 8 1?5 8950 Income taxes 12900 12450 Total costs and expenses 545 20? 519 545 Netincome 5 38293 S 3? 354 Earnings per share 5. 2,3? ,9 2,23 Step4 Refer to the Nabisco Company information in the Steps above. Compare the company's longterm risk and capital structure positions at the end of 2019 and 2020 by computing these ratios: {1} debt and equity ratios, {2} debttoequity ratio, and {3} times interest earned. Comment on these ratio results. Step 5 Refer to the Nabisco Company information in Steps above. Evaluate the company's efficiency and profitability by computing the following for 2020 and 2019: {1} profit margin ratio, {2} total asset turnover, and {3} return on total assets. Comment on these ratio results