The comparative balance sheets of Waterways Corporation's Irrigation Installation Division for the years 2019 and 2020 and the income statements for the year 2019 and 2020 are presented below. Additional information: 85% of the sales for Waterways were credit sales. There are 5,000 shares outstanding for both years. This is a private corporation whose shares are not available to the public. WATERWAYS CORPORATION-INSTALLATION DIVISION Balance Sheets December 31 Assets 2020 2019 Current assets Cash $830,400 $749,500 Accounts receivable 674,900 541,100 Work in process 708,600 Inventory 16,700 7,500 Prepaid expenses 76,100 42,200 Total current assets 2,306,700 1,340,300 Property, plant, and equipment Land 297,000 297,000 Buildings 451,000 451,000 Equipment 920,600 792,100 Furnishings 40,200 40,200 Accumulated depreciation (478,600) (485,400) Total property, plant, and equipment 1,230,200 1,094,900 Total assets $3,536,900 $2,435,200 Liabilities and Stockholders' Equity Current liabilities Accounts payable $155.900 $129,200 Income taxes payable 101,600 79,400 Wages payable 4,600 2,000 Interest payable 1,200 Other current liabilities 14,700 15,400 Revolving bank loan payable 15,200 Total current liabilities 293,200 226,000 Long-term liabilities Note payable 140,000 Total liabilities 433,200 226,000 Stockholders' equity Common stock 1,250,000 1,250,000 Retained earnings 1,853,700 959,200 Total stockholders' equity 3,103,700 2,209,200 Total liabilities and stockholders' equity 53,536,900 $2,435,200 WATERWAYS CORPORATION-INSTALLATION DIVISION Income Statements For the Year Ending December 31 2020 2019 Sales $5,497,457 $4,992,500 Less: Cost of goods sold 3,104,300 2,787,500 Gross profit 2,393,157 2,205,000 Operating expenses Advertising 49,500 47,500 Insurance 398,000 398,000 Salaries and wages 584,000 554,000 Depreciation 67,800 58,800 Other operating expenses 21,400 18,588 Total operating expenses 1,120,700 1,076,888 Income from operations 1,272,457 1,128,112 Other income Gain on sale of equipment 17,700 Other expenses Interest expense (12,300) Income before income tax 1,277,857 1,128,112 Income tax expense 383,357 338,434 Net income $894,500 $789,678 (c) Calculate the following ratios for 2020 and indicate whether the ratio is a liquidity, solvency, or profitability ratio. (Round Asset turnover ratio, Accounts receivable turnover ratio, Current ratio and Earnings per share to 2 decimal places, e.g. 15.25. Round Average collection period, Debt to assets ratio, Profit margin, Return on assets ratio, Return on common stockholders' equity ratio and Times interest earned ratio to 1 decimal place, e.g. 15.2 or 15.2%. Use 365 days for calculation.) Type (1) Asset turnover ratio times (2) Accounts receivable turnover ratio times (3) Average collection period (4) Current ratio (5) Debt to assets ratio (6) Earnings per share (7) Profit margin (8) Return on assets ratio (9) Return on common stockholders' equity ratio (10) Times interest earned ratio