The following financial information is for Priscoll Company, Priscoll Company Balance Sheets December 31 Assets 2020 2019 Hy. 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 $ 119,700 94,050 177,840 393,300 42,750 222,300 444,600 $1,494,540 $ 111,150 68,400 153,900 282,150 39,330 222,300 316,350 $1,193,580 $290, 700 111,150 68,400 427,500 342,000 254,790 $1,494,540 $205,200 88,920 68,400 290, 700 342,000 198,360 $1,193,580 Priscoll Company Income Statement For the Years Ended December 31 2020 2019 Sales revenue Cost of goods sold Gross profit Operating expenses Net income $1,508,220 1,094,400 413,820 324,900 $ 88,920 $1,350,900 983,250 367,650 285,570 $ 82,080 Additional information: 1. 2. 3. Inventory at the beginning of 2019 was $196,650. Accounts receivable (net) at the beginning of 2019 were $147,060. Total assets at the beginning of 2019 were $1,128,600. 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. (Roune place, e.g. 6.8 or 6.8%.) 2019 2020 LIQUIDITY 02 Current ratio on :1 : 1 Accounts receivable turnover times times udy. Inventory turnover PROFITABILITY times times Profit margin % % Asset turnover times times Return on assets % % Earnings per share $ Click if you would like to ch