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 1460 1.270 Property, plant, and equipment inet 450 410 Investments 1 10 Intangibles and other assets 590 470 Total assets $2.501 $2,160 Current liabilities 5820 5820 Long-term liabilities 601 200 Stockholders equity-common 1080 1,080 Total liabilities and stockholders' equity $2,501 $2.100 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 980 $70 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 pense 140 92 Net income 5210 $238 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 96 56 (d) Return on assets 96 96 fel Return on common stockholders equity 56 96 th) Debt to astets ratio 56 96 Times interest earned times times e Textbook and Media Attempts: 0 of 3 used Submit Answer Save for Later Using multiple attempts will impact your score. 596 score reduction after attempt 2