The following financial information is for Priscoll Company. Priscoll Company Balance Sheets December 31 Assets 2020 Cash $ 84,700 Debt investments (short-term) 66,550 Accounts receivable 125,840 Inventory 278,300 Prepaid expenses 30,250 Land 157,300 Building and equipment (net) 314,600 Total assets $1,057,540 Liabilities and Stockholders' Equity Notes payable (short-term) $205,700 Accounts payable 78,650 Accrued liabilities 48,400 Bonds payable, due 2023 302,500 Common stock, $10 par 242,000 Retained earnings 180,290 Total liabilities and stockholders' equity $1,057,540 2019 $78,650 48,400 108,900 199,650 27,830 157,300 223,850 $844,580 $145,200 62,920 48,400 205,700 242,000 140,360 $844,580 Priscoll Company Income Statement For the Years Ended December 31 2020 2019 Sales revenue $1,067,220 $955,900 Cost of goods sold 774,400 695,750 Gross profit 292,820 260,150 Operating expenses 229,900 202,070 Net income $62,920 $ 58,080 Additional information: 1. 2. 3. Inventory at the beginning of 2019 was $139,150. Accounts receivable (net) at the beginning of 2019 were $104,060. Total assets at the beginning of 2019 were $798,600. No common stock transactions occurred during 2019 or 2020. All sales were on account. 4. 5. 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 times times Inventory turnover PROFITABILITY Profit margin % % Asset turnover times times Return on assets % % Earnings per share $ $