The following financial information is for Priscoll Company. Priscoll Company Balance Sheets December 31 Assets 2020 2019 Cash Debt investments (short-term) Accounts receivable Inventory Prepaid expenses Land Building and equipment (net) Total assets Liabilities and Stockholders' Equity $ 70,700 55,550 105,040 232,300 25,250 131,300 262,600 $ 65,650 40,400 90,900 166,650 23,230 131,300 186,850 $704,980 $882,740 $121,200 52,520 40,400 Notes payable (short-term) $171,700 Accounts payable 65,650 Accrued liabilities 40,400 Bonds payable, due 2023 252,500 Common stock, $10 par 202,000 Retained earnings 150,490 Total liabilities and stockholders' equity $882,740 171,700 202,000 117,160 $704,980 Priscoll Company Income Statement For the Years Ended December 31 2020 2019 Sales revenue Cost of goods sold Gross profit Operating expenses Net income $890,820 646,400 244,420 191,900 $ 52,520 $797,900 580,750 217,150 168,670 $ 48,480 Additional information: 1. Inventory at the beginning of 2019 was $116,150. 2. Accounts receivable (net) at the beginning of 2019 were $86,860. 3. Total assets at the beginning of 2019 were $666,600. 4. No common stock transactions occurred during 2019 or 2020. 5. All sales were on account. . 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 :1 : 1 1 Current ratio Accounts receivable turnover times times Inventory turnover times times PROFITABILITY Profit margin % % Asset turnover times times Return on assets % % Earnings per share $ $ The following are three independent situations and a ratio that may be affected. For each situation, compute the affected ratio (1) as of December 31, 2020, and (2) as of December 31, 2021, after giving effect to the situation. (Round debt to assets ratio to 0 decimal places, e.g. 15% and other answers to 1 decimal place, e.g. 6.8 or 6.8%.) Situation Ratio (1) 18,180 shares of common stock were sold at par on July 1, 2021. Net income for 2021 was $54,540. Return on common stockholders' equity Debt to assets ratio (2) All of the notes payable were paid in 2021. All other liabilities remained at their December 31, 2020, levels. At December 31, 2021, total assets were $909,000. (3) The market price of common stock was $9 and $12 on December 31, 2020 and 2021, respectively. Net income for 2021 was $54,540. Price-earnings ratio 2020 2021 Return on common stockholders' equity % % Debt to assets ratio % % Price-earnings ratio times times