The condensed financial statements of Ness Company for the years 2019 and 2020 are presented below. Ness Company Balance Sheets December 31 (in thousands) 2020 2019 Current assets Cash and cash equivalents $320 $320 Accounts receivable (net) 510 400 Inventory 490 380 Prepaid expenses 140 170 Total current assets 1.460 1.270 Property, plant and equipment inet 450 410 Investments 1 10 Intangibles and other astets 590 470 Total assets $2.501 $2,160 Current liabilities 9820 5820 Long-term liabilities 801 280 Stockholders equity-common 1.080 1.000 Total liabilities and stockholders' equity $2,501 $2.180 Ness Company Income Statements For the Years Ended December 31 (in thousands) 2020 2019 Sales revenue $3.770 $3.420 Costs and expenses Cost of goods sold 900 870 Selling & administrative expenses 2.430 2.300 Interest expense 10 20 Total costs and expenses 3,420 3,190 Income before income taxes 350 230 Income tax expense 140 92 Net income 5210 $138 Compute the following ratios for 2020 and 2019. Inventory on December 31, 2018, was $300. Assets on December 31, 2018, were $1,890. Equity on December 31, 2018, was $970. Round current ratio and inventory turnover to 2 decimal places, eg. 15.25. Round other answers to 1 decimal place, c.8. 15.2 or 15.29) 2020 2019 (a) Current ratio 1 :1 (b) Inventory turnover times times (c) Profit margin $6 6 56 (d) Return on assets 96 96 Return on common stockholders' equity 56 th) Debt to assets ratio 96 96 Times interest earned times times eTextbook and Media Attempts: 0 of 3 used Submit Arower Save for Later Using multiple attempts will impact your score 596 score reduction after attempt 2