The balance sheet and income statement for Joe's Fish Hut are presented below: Joe's Fish Hut Balance Sheet As at August 31 2020 2019 ASSETS Current Assets Cash $180,881 $64,900 Accounts receivable $18,200 $12,000 Merchandise Inventory $21,700 $26,900 Total Current Assets $220,781 $ 103,800 Property, plant & equipment $148,000 $200,000 Less: Accumulated depreciation $-26,900 $-22,200 TOTAL ASSETS $341,881 $281,600 LIABILITIES AND EQUITY Liabilities Current Liabilities Liabilities Current Liabilities Accounts payable $32,400 $34,400 Notes Payable-Current Portion $6,500 $6,500 Total Current Liabilities $38,900 $40,900 Notes Payable-Long-Term Portion $90,000 $60,000 TOTAL LIABILITIES $128,900 $100,900 Shareholders' Equity Common shares $72,000 $58,400 Retained earnings $140,981 $122,300 TOTAL SHAREHOLDERS' EQUITY $212,981 $180,700 TOTAL LIABILITIES AND EQUITY $341,881 $281,600 Liabilities Current Liabilities Accounts payable $32,400 $34,400 Notes Payable-Current Portion $6,500 $6,500 Total Current Liabilities $38,900 $40,900 Notes Payable-Long-Term Portion $90,000 $60,000 TOTAL LIABILITIES $128,900 $100,900 Shareholders' Equity Common shares $72,000 $58,400 Retained earnings $140,981 $122,300 TOTAL SHAREHOLDERS' EQUITY $212,981 $180,700 TOTAL LIABILITIES AND EQUITY $341,881 $281,600 Joe's Fish Hut Income Statement For the Year Ended August 31, 2020 Sales $134,000 COGS $88,000 Gross Profit $46,000 Operating Expenses Insurance Expense $1,020 Rent Expense $4,210 Salaries Expense $5,550 Telephone Expense $760 Interest Expense $1,020 Depreciation Expense $4,700 Total Operating Expenses $17,260 Operating Profit Before Tax $28,740 Income Tax Expense $10,059 Net Profit (Loss) $18,681 Complete the following ratio analysis. Do not enter dollar signs or commas in the input boxes. Round all answers to 2 decimal places. a) Calculate the gross profit margin for the 2020. Gross Profit Margin: % b) Calculate the times interest earned ratio for 2020. Times Interest Earned: times c) Calculate the net profit margin for 2020. Net Profit Margin: % d) Calculate the return on equity for 2020. Return on Equity: % e) Calculate the return on assets for 2020. Return on Assets: % f) Calculate the asset turnover ratio for 2020. Asset turnover: times g) Calculate the current ratio for 2020. Current Ratio: h) Calculate the quick ratio for 2020. Quick Ratio: i) Calculate the debt to equity ratio for 2020. Debt to Equity Ratio: j) Calculate the days sales outstanding ratio for 2020. Assume all sales are credit sales. Days sales outstanding: days k) Calculate the accounts receivable turnover for 2020. Assume all sales are credit sales Accounts Receivable turnover: times 1) Calculate the days' sales in inventory ratio for 2020. Days' Sales in Inventory: days m) Calculate the inventory turnover for 2020. Inventory turnover: times n) Calculate the debt to assets ratio for 2020. Debt to Assets Ratio: % n) Calculate the debt to assets ratio for 2020. Debt to Assets Ratio: % o) Calculate the working capital for 2020. Working Capital