The financial statements of Amy Inc. appear below: Amy Inc Comparative Balance Sheet December 31, Assets 2020 2019 Cash....................................................................................... $ 36,000 $ 33,000 Short-term investments .......................................................... 28,000 30,000 Accounts receivable (net)....................................................... 80,000 60,000 Supplies ................................................................................. 8,000 10,000 Inventories.............................................................................. 115,000 80,000 Prepaid Expenses .................................................................. 6,000 5,000 Property, plant and equipment (net)....................................... 297,000 218,000 Total assets ..................................................................... $570,000 $436,000 Liabilities and stockholders' equity Accounts payable................................................................... $ 87,000 $ 73,000 Short-term notes payable ....................................................... 15,000 17,000 Long-term bonds payable....................................................... 80,000 20,000 Common stock, $2 par value.................................................. 100,000 100,000 Preferred Stock, $100 par value............................................. 90,000 90,000 Retained earnings .................................................................. 198,600 136,000 Total liabilities and stockholders' equity ............................ $570,000 $436,000 Amy Inc Income Statement For the Year Ended December 31, 2020 Net sales ................................................................................ $940,000 Cost of goods sold.................................................................. 545,000 Gross profit............................................................................. 395,000 Expenses Depreciation Expense....................................................... $5,400 Salaries Expense.............................................................. 202,000 Interest expense ............................................................... 39,500 Other Operating expenses................................................ 27,100 Total expenses ............................................................ 274,000 Income before income taxes .................................................. 121,000 Income tax expense ............................................................... 36,000 Net income............................................................................. $ 85,000 Additional information: a. During 2020, Amy Inc. paid $10,000 cash dividends to its preferred shareholders and $22,000 cash dividends to its common shareholders c. Trading price of the common stock on December 31, 2020, was $15 per share. Instructions Using the above information, compute the following ratios for 2020: 1.Current ratio 4. Accounts receivable turnover 7. Earnings per Share 2.Inventory turnover 5. Average collection period 8. Price-earnings ratio 3.Profit margin 6. Average days inventory on hand 9. Times interest earned