The financial statements of the Precious Company appear below: PRECIOUS COMPANY Comparative Balance Sheet December 31, Assets Cash Debt investments Accounts receivable (net) Inventory Property, plant and equipment (net). Total assets .......... Wel ........... 2020 $ 25,000 20,000 50,000 140,000 170.000 $405,000 2019 $ 40,000 60,000 30,000 170,000 | 200,000 $500,000 Liabilities and stockholders' equity Accounts payable. Short-term notes payable Bonds payable Common shares .... Retained earnings ... Total liabilities and shareholders' equity .. $ 25,000 40,000 75,000 160,000 105.000 $405.000 $ 30,000 90.000 160,000 145.000 75,000 $500.000 PRECIOUS COMPANY Income Statement For the Year Ended December 31, 2020 $360,000 184,000 176,000 .................. Net sales (all on credit) .. Cost of goods sold .. Gross profit Expenses Interest expense ............ Selling expenses ............ Administrative expenses Total expenses Income before income taxes Income tax expense Net income .......... $11,000 30,000 20,000 61,000 115,000 35,000 $ 80.000 Additional information: a. Cash dividends of $50,000 were declared and paid on common stock in 2020. b. Weighted-average number of shares of common stock outstanding during 2020 was 50,000 shares. C. Market price of common stock on December 31, 2020, was $16 per share. d. Net cash provided by operating activities for 2020 was $70,000. Required Using the financial statements and additional information above, compute the following ratios for the Precious Company for 2020. Show all formulas and computations. 1. Current ratio 2. Return on common stockholders' equity 3. Price-earnings ratio 4. Inventory turnover Accounts receivable turnover Times interest earned 7. Profit margin 8. Days in inventory 9. Payout ratio 10. Return on assets