The Balance Sheet and Income Statement for Venus Sales Ltd. are shown below. *Assume all of the sales are on account **Venus Sales is a medium-sized retailer, selling a low volume of high-priced products. ASSETS Current Assets Venus Sales Ltd. Balance Sheet December 31, 20- Bank Accounts Receivable Merchandise Inventory $ 2 200 35 450 38 800 Prepaid Insurance 750 Supplies 1000 $ 78 200 Long-Term Assets Land $ 75 000 Building 195 000 Equipment 70 000 340 000 $418 200 Total Assets LIABILITIES AND EQUITY Current Liabilities Bank Loan $ 25 000 Accounts Payable 10 800 $ 35 800 Long-Term Liability Mortgage Payable Shareholders' Equity Share Capital Retained Earnings Total Liabilities and Equity 145 900 $100 000 136 500 236 500 $418 200 Revenue Sales Venus Sales Ltd. Income Statement Year Ended December 31, 20 Cost of Goods Sold Merchandise Inventory, Jan. 1 Purchases Merchandise Available for Sale Less Merchandise Inventory, Dec. 31 Gross Profit Operating Expenses Bank Charges Car Expense Depreciation Expense Management Salaries Miscellaneous Expense Telephone Expense Utilities Expense Wages Expense Net Income $438 317 $ 38 800 285 050 $323 850 41 600 282 250 $156 067 $ 3000 2 850 23 750 30 000 375 480 2 400 66 012 128 867 $ 27 200 Calculate each of the following ratios to one decimal place. below each result, write a prier comment that explains and evaluates the result. Ratio Current Ratio Quick Ratio Collection Period Inventory Turnover Debt Ratio Equity Ratio Return on Net Sales Return on Equity Result Comment