The following financial information is for Priscoll Company. Priscoll Company Balance Sheets December 31 Assets 2020 2019 $ 137,200 107,800 203,840 450,800 49,000 254,800 509,600 $1,713,040 $ 127,400 78,400 176,400 323,400 45,080 254,800 362,600 $1,368,080 Cash Debt investments (short-term) Accounts receivable Inventory Prepaid expenses Land Building and equipment (net) Total assets Liabilities and Stockholders' Equity Notes payable (short-term) Accounts payable Accrued liabilities Bonds payable, due 2023 Common stock, $10 par Retained earnings Total liabilities and stockholders' equity $333,200 127,400 78,400 490,000 392,000 292,040 $1,713,040 $235,200 101,920 78,400 333,200 392,000 227,360 $1,368,080 Priscoll Company Income Statement For the Years Ended December 31 2020 2019 Sales revenue $1,728,720 $1,548,400 Cost of goods sold 1,254,400 1,127,000 Gross profit 474,320 421,400 Operating expenses 372,400 327,320 Net income $ 101,920 $ 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. Indicate, by using ratios, the change in liquidity and profitability of Priscoll Company from 2019 to 2020. (Round Current ratio, Ass 6.8%.) 2019 2020 LIQUIDITY Current ratio :1 Accounts receivable turnover times times times times Inventory turnover PROFITABILITY Profit margin % % Asset turnover times times Return on assets % % Earnings per share $ ta * Question 3 The parts of this question must be completed in order. This part will be available when you complete the part above