The following financial information is for Priscoll Company. 2019 Priscoll Company Balance Sheets December 31 Assets 2020 Cash $ 137,200 Debt investments (short-term) 107,800 Accounts receivable 203,840 Inventory 450,800 Prepaid expenses 49,000 Land 254,800 Building and equipment (net) 509,600 Total assets $1,713,040 Liabilities and Stockholders' Equity Notes payable (short-term) $333,200 Accounts payable 127,400 Accrued liabilities 78,400 Bonds payable, due 2023 490,000 Common stock, $10 par 392,000 Retained earnings 292,040 Total liabilities and stockholders' equity $1,713,040 $ 127,400 78,400 176,400 323,400 45,080 254,800 362,600 $1,368,080 $235,200 101,920 78,400 333,200 392,000 227,360 $1,368,080 2019 Priscoll Company Income Statement For the Years Ended December 31 2020 Sales revenue $1,728,720 Cost of goods sold 1,254,400 Gross profit 474,320 Operating expenses 372,400 Net income $ 101,920 $1,548,400 1,127,000 421,400 327,320 $ 94,080 Additional information: 1. 2. 3. Inventory at the beginning of 2019 was $225,400. Accounts receivable (net) at the beginning of 2019 were $168,560. Total assets at the beginning of 2019 were $1,293,600. No common stock transactions occurred during 2019 or 2020. All sales were on account. 4. 5. (a) Indicate, by using ratios, the change in liquidity and profitability of Priscoll Company from 2019 to 2020. (Round Current ratio, Asset turnover and Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) 2019 2020 LIQUIDITY Current ratio :1 :1 Accounts receivable turnover times times Inventory turnover times times PROFITABILITY Profit margin % % Asset turnover times times Return on assets % % Earnings per share $ $