The financial statements of Green Corporation appear below: Green Corporation Comparative Balance Sheets December 31, 2020 - 21 Assets Cash Short-term investments Accounts receivable (net) Inventory Property, plant and equipment (net) Total assets 2021 $ 75,000 75,000 150,000 225,000 975,000 $1,500,000 2020 $ 150,000 225,000 112,500 262,500 1,125,000 $1,875,000 Liabilities and stockholders' equity Accounts payable Short-term notes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 75,000 150,000 300,000 562,500 412,500 $1,500,000 $ 112,500 337,500 600,000 562,500 262,500 $1,875,000 Green Corporation Income Statement For the Year Ended December 31, 2021 $1,500,000 937,500 562,500 Net sales Cost of goods sold Gross profit Expenses Operating expenses Interest expense Total expenses Income before income taxes Income tax expense Net income $157,500 67.500 225,000 337,500 101,250 $ 236,250 Required: 1. Using the financial statements, compute the following ratios for Green Corporation for 2021. Show all computations. (3 marks) 1. Current ratio. 2. Acid-test ratio. 3. Accounts receivable turnover. 4. Inventory turnover. 5. Profit margin. 6. Return on assets. 7. Assets turnover. 8. Times interest earned. 2. Prepare a vertical analysis of the 2021 income statement data for Green Corporation. (1 mark) 3. Based on the ratios calculated in (a), and the vertical analysis in (b), discuss briefly the improvement or lack in financial position and operating results from 2021 to 2020 of Green Corporation. (1 mark)