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Ian Manufacturing Company was organized five years ago and manufactures toys. Its most recent three years' balance sheets and income statements are reproduced below: IAN MANUFACTURING COMPANY Balance Sheets IAN MANUFACTURING COMPANY Condensed Income Statements June 30, Year 5, Year 4, and Year 3 For Years Ended June 30, Year 5. Year 4, Year 3 Year 5 Year 4 Year 3 Year 5 Year 4 Year Assets Net sales. ......... -. ... $1,684,000 $1,250,000 $1,050,000 Cash. . ... $ 12,000 $ 15,000 $ 16,000 Cast of goods sold. . (810,000 (512,000) Accounts receivable, net... 183,000 80,000 60,000 Gross profit. 757,DO0 440,000 538,000 Inventory...... . . . . . . 142,000 97,000 52,000 Marketing and administrative costs . [396,700) (467 760) Other current assets. . . 5,000 6,000 4,000 Operating income . 87,DO 13,300 70,24 Plant and equipment, inet . ... 160,000 110,000 70,000 Interest cost (12,DO0) 7 300 (2,240) Total assets $502,000 $308,000 $202,000 Income before income tax . 75.DO 36,000 31,000 Income HEX. . ... (20,000) (14,400) Liabilities and Equity Net income . . . . .. 45,000 21,600 $ 40,000 Accounts payable ....... $147,800 $ 50,400 $ 22,000 Federal income tax payable 30.000 14,400 28,000 Long-term liabilities. . 120,000 73,000 22,400 Common stock, $5 par value. 110,000 110,000 80,000 A reconciliation of retained earnings for years ended June 30, Year 4, and Year 5, follows: Retained earnings 34.200 60,200 49.600 IAN MANUFACTURING COMPANY Total liabilities and equity . .. . . .. $502,DOC $308,000 $202,000 Statement of Retained Earnings For Years Ended June 30, Year 5 and Year Year 5 Year 4 Balance, beginning ... . . . .. . $ 60,200 49,600 Add: Net income. .. .. ... 45,010 21,600 Subtotal. 105,200 71,200 Deduct- Dividends paid (1 1,010] [11,DO0) Balance, ending. .... . ...." $ 94,200 $ 60,200 Additional Information: 1. All sales are on account. 2. Long-term liabilities are owed to the company's bank. 3. Terms of sale are net 30 days. Required: a. Compute the following measures for both Years 4 and 5: (1) Working capital. (2) Current ratio. (3) Acid-best ratio. (4) Accounts receivable turnover. (5) Collection period of receivables. (6) Imentory tumover. (7) Days to sell inventory (B) Debt-to-equity ralia. (9) Times interest eamed