Unit 10 - Financial Statement Analysis Following is a comparative balance sheet for Summer Days Corporation: Summer Days Corporation Comparative Balance Sheet December 31, 2019 and 2018 20192018 Current assets: Cash$ 140,000$ 90,000 Short-term investments90,00080,000 Accounts receivable, net350,000220,000 Inventory500,000430,000 Prepaid expenses30,00030 000 Total current assets$1,110,000$ 850,000 Property, plant, and equipment, net750,000500,000 Other assets280.000300,000 Total assets $2.140,000$1,650,000 Current liabilities: Short-term notes payable$650,000$670,000 Accounts payable200,000225,000 Total current liabilities $850,000$895,000 Non-current debt380,000220,000 Total liabilities$1,230,000$1,115,000 Shareholders' equity. Common shares $500,000$500,000 Retained earnings 10,00035,000 Total shareholders' equity5 910,000$535,000 Total liabilities and shareholders' equity$2,140,000$1,650,000 Notes: Net sales (all on credit) and cost of goods sold for the year ended December 31, 2019, were $2,000,000 and $1 200,000, respectively. The number of common shares outstanding has been 50,000 since the company began operations. Required: Calculate the following ratios for the year ended December 31, 2019. a. current ratio b. acid-test ratio c inventory tumover d. accounts receivable turnover e. debt ratio f. book value per common share of stock Page Break