Use the following information to answer the question below: note all sales are credit sales.

Compute each of the following ratios for 2018 and 2019 and indicate whether each ratio was getting "better" or "worse" from 2018 to 2019 and was "good" or "bad" compared to the industry Avg. 2019 (round all numbers to 2 digits past the decimal place).

Income Stmt info: 2018 2019 Sales $ 1,000,000 $ 1,050,000 less Cost of Goods Sold: - 400,000 _ 432.000 Gross Profit 600,000 618,000 Operating Expenses 350,000 365,750 is before Interest & Taxes 250,000 252,250 Interest exp 20,000 20,400 earnings before Taxes 230,000 231,850 Taxes 69,000 69,555 Net Income $ 161,000 $ 162,295 Balance Sheet info: Cash Accounts Receivable Inventory Total Current Assets Fixed Assets (Net) Total Assets 12/31/2018 12/31/2019 25,000 $ 30,000 50,000 $ 54,000 125,000 $ 130,000 $ 200,000 $ 214,000 $ 300,000 $318,000 $ 500,000 $ 532,000 Current Liabilities Long Term Liabilities Total Liabilities Stockholder's Equity Total Liab & Equity: $ 110,000 $ 119,900 $ 180,000 $ 175,000 $ 290,000 $ 294,900 $ 210,000 $ 237,100 $ 500,000 $ 532,000 2018 Profit Margin Current Ratio Quick Ratio Return on Assets Debt to Assets Receivables turnover Avg. collection period* Inventory Turnover** Return on Equity Times Interest Earned "Good" or "Bad" Getting compar Better or 2019 ed to Getting Industr Industr 2019 Worse? y Avg y Avg 0.11 1.90 0.66 28 .50 18.00 15.50 9.25 0.55 13.20 *Assume a 360 day year **Inventory Turnover can be computed 2 different ways. Use the formula listed in the text (the one the text indicates many credit reporting agencies generally use)